Are you a first time home buyer? Chances are that you don’t even know how to get started in buying your first home. Well, it isn’t as hard as you might be thinking. There are a few things that you should do in the very beginning to make sure your home buying process gets off to a great start. Watch this video for details.
It’s always smart to get connected to a local real estate expert in your community. Reach out to a licensed Realtor who you know or who has great reviews and experience working with First Time Homebuyers. If you are in Northern Colorado, reach out to me directly at 970-203-5066.
The first thing that you need to do to get the home purchasing process started is to apply for a mortgage loan. Skip the big banks and reach out to a local mortgage lender. It’s smart to ask your preferred Realtor who you should use for your mortgage lender.
To get a mortgage loan as a first time homebuyer, you’ll need to have some credit history. Make sure you are building credit and paying your bills on time. You should have a credit card that you are paying off or keeping low balances on and it’s also great to have a car loan or other installment loan to show you can make monthly payments. You will also need to have at least a small savings for a down payment, earnest money and closing costs. Many first time home buyers are buying homes with 3% down so don’t worry if you don’t have 20% saved up.
After you have your pre-approval for the home loan, you’ll want to meet with your Realtor to start looking for your home. I like to offer a home buyers consultation where we can discuss what you are looking for and what features the home needs to have. In this meeting we will also answer any other questions that you might have about buying a home.
After this, we’ll be ready to search for your first home. We’ll look at homes, talk about prices and make an offer. There are many other steps in the home buying process but it isn’t as difficult as you might think. Reach out to me directly to get started on buying your new home today. Or, simply down load your Home Buyers Guide now: Free Home Buyers Guide