7 Things All First Time Home Buyers Should Know

Hello again and welcome. If you are a first time home buyer thinking of buying your first home, here are seven simple, but very important facts to help you get the process started.

1. No, you do not need 20 percent down- of course there are some advantages to putting down 20 percent, but the fact is, you do not need to have 20% down payment to buy a house.

2. You may have to take an online home buyers course - home buyer education is typically required when using down payment assistance programs. The cost (if any) is very small.

3. Work with a Realtor - finding a home is only one part of the home buying process. Your Realtor will help you navigate the entire process including helping you to find the right lender process your mortgage loan. A home seller always has someone looking out for their best interest, you should too.

4. Credit score- your credit score will determine your interest rate and loan type.

6. Down payment programs. Speak with you loan officer about which down payment assistance program you may qualify for.

7. Don’t forget to budget for your upfront costs - that include but not limited to, earnest money, option fee, inspection, and appraisal.

Buying your first home can be a bit overwhelming, however, if you know what to expect and you work with a Realtor that will look out for your best interest, the process will be smooth and stress free.

As always, thank you so much for stopping by. Remember, if you or someone you know is thinking of purchasing a first home, please give us a call or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana