Mortgage Guy 360 - Steps to Buying Your First Home
Check Your Financial Health
Before diving into the home search, it’s important to understand your financial starting point.
- Review your credit score and credit history.
- Take inventory of your debts and savings.
- Create a budget that shows how much you’re comfortable spending on a monthly mortgage payment.
💡 Tip: Don’t assume you need perfect credit. Many first-time buyer programs offer flexible credit requirements.
Get Pre-Approved for a Mortgage
A pre-approval is like your homebuying passport—it tells you (and sellers) how much you can afford.
- Provides a realistic price range.
- Makes you a stronger buyer in a competitive market.
- Helps you move quickly when you find the right home.
📊 Think of it as your game plan before you even step into an open house.
Explore First-Time Homebuyer Programs
Did you know you don’t always need a 20% down payment?
- Some loans allow as little as 3% down.
- Programs like FHA, VA, and USDA loans can be ideal for new buyers.
- State and local grants may also be available to help with down payment or closing costs.
💡 This is where working with a mortgage advisor can open doors you didn’t know were available.Our team is made up of experienced professionals who are dedicated to providing exceptional service. We work closely with our clients to understand their needs and provide tailored solutions that exceed their expectations.
Find the Right Home
Now the fun begins! With your budget and pre-approval in hand, you can start house hunting.
- Consider location, schools, commute, and lifestyle.
- Don’t stretch beyond what you can comfortably afford.
- Work with a trusted real estate agent to guide you through the search and negotiation process.
Make an Offer & Secure Financing
When you find “the one,” your agent will help you submit an offer. Once it’s accepted:
- You’ll lock in your mortgage rate.
- Complete the loan application process.
- Prepare for inspections, appraisals, and final underwriting.
Close on Your Home
Closing day is where everything comes together. You’ll:
- Sign the final paperwork.
- Pay your down payment and closing costs.
- Get the keys to your very first home! 🗝️