“Ask Your Mortgage Professional"              

What Every First-Time Home buyer Should Know and Expect When Buying A Home  

Loan Pre-Approval Process 

First, let me assure you that money is still available.  There is also 100% financing still available.  Knowing how much you can afford is the first real issue that you need to discuss with a Certified and Licensed Mortgage Professional.  Knowing what price range you can afford and getting pre-approved will help you shop for the right home.  So the first item on your list is to be pre-approved for a mortgage loan.  This means working with a Mortgage Professional that evaluates your entire financial situation and gives you a letter of pre-approval for you to use in the shopping process. This really is the most important step in the process and needs to be done before you start shopping for a home.  Skipping this vital first step, you will have no direction on the price range and location of which properties you can really afford.  

Choosing A REALTOR _®

Second, you will need to find a reputable and knowledgeable REALTOR _{® .}   Working with a local REALTOR _® is also very important.  They are familiar with neighborhoods, school districts and other important aspects of your area and you will need their expertise when purchasing your first home.  

Finding The Perfect Home 

Shopping in your price range will help you narrow down the possibilities and ensure that you find the home of your dreams with an affordable mortgage payment.  Buying a home is the single largest financial transaction you will do you in your lifetime.  Take your time and find the home that best fits you and your family’s needs today and in the future.  Think about the future, buying a home is a long-term investment.  Think about your short term and long term goals. How the house will fit into your plans?  

Loan Process 

While there are many loan products on the market today, you need to know which option will best fit your individual financial needs. FHA, USDA, VA, or Conventional,  all of these mortgage products are good programs, however you need to know which option will best fit your individual financial needs.  Determining the right mortgage strategy will be big part of which option will best fit your personal financial goals.  Keep in mind when inquiring about a mortgage not all lenders offer all loan programs.  If the lender does not offer all loan programs how do you know you are getting the right mortgage loan for your individual situation.  Working with a Mortgage Professional will help you understand each option and the benefits of each program.   

Seller Paid Closing Costs 

Sellers can pay up to six percent of your closing costs for many of the loan programs available. This offers you the opportunity to bring less money to closing. This also allows many first-time home buyers the opportunity to purchase a home with little money out of pocket. With so many homes on the market today, this is also an incentive to buyers to look at a property offering seller paid closing costs. It can also be a deciding factor of which home they can really afford.  

Your New Home 

While the loan process and the home buying experience is new to all first-time home buyers working with Professionals in all aspects of the home buying process will ensure that you are guided and helped in each step in the process.  Buying a home takes time and patience and with the help of both your REALTOR _® and your Mortgage Professional you will find your perfect home.   

As a Mortgage Professional, I am committed to achieving affordable, responsible and sustainable homeownership to the homeowners of our community. Continued growth in our community depends on a solid foundation of homeowners. Owning a home is now more obtainable and affordable than ever before. Call me today to qualify for your home mortgage. I can recommend a qualified and knowledgeable REALTOR _® to start you home buying experience.  

If you have questions or comments please email them to [email protected]    

Call Andrew today at 573-302-0600   

Website:  www.askandrewconner.com