Buying your first home may seem like a complicated and challenging process. But it doesn’t have to be. Our expert mortgage bankers can tell you how much home you can afford, get you pre-approved for your first home loan and guide you through the process every step of the way!
Your First Home
On average, first-time homebuyers are looking for a home with two bedrooms and two bathrooms, within a budget of $200,000. The size of the home and the budget are important, but there are many other factors to consider. You should also think about where the property is located, the age and condition of the home and the required maintenance for both interior and exterior.
When you have a good idea what you are looking for, you can begin searching for your home on our home search platform. There is a cash reward of 0.5% of the value of your home when you work with one of our trusted real estate agents. Search homes now!
Your Mortgage Loan
When it comes to financing, you will have several loan options to choose from. The most common mortgage loans are the conventional fixed mortgage, the USDA loan for rural properties, the VA loan for veterans and military personnel, and the FHA loan for homebuyers with a lower income. Each type of mortgage loan has different down payment requirements, interest rates, and eligibility requirements. Your Resource mortgage banker will help you determine the best option for you.
There are also first-time homebuyers programs, which can provide you with a grant or assistance for your down payment and possibly even for your closing costs. Some of the first-time homebuyer programs are national, while others are specific to your state. With so many financing options available you will want an experienced mortgage banker to guide you through. Our team is here to answer all of your questions.
Buying your first home is a big commitment, and certainly one of the largest purchases you will ever make. Now that you have a good idea of where to start in your homebuying journey, remember not to let things get overwhelming! Read more tips on our blog and reach out to a professional to have your questions answered.
At Resource Financial Services, we love making people’s dreams of home ownership a reality. Visit us online today at rfsmortgage.com to get started. Then contact a Resource Financial Services mortgage banker at 877.797.4545 to discuss your mortgage options and your financial goals. Let us walk you through the process and welcome you home to a better mortgage.