Purchasing a home is an exciting milestone, however it can also be overwhelming. But don't worry! We are here to help. We've answered four of the most common questions for first-time homebuyers. 

1. What's the first step in the home-buying process?

The first step is getting pre-approved for a mortgage. This involves meeting with a lender (we know a few!) who will review your financial situation, including your income, credit score, and debt-to-income ratio. Pre-approval helps you understand how much you can afford & helps us lead you in the right direction.

2. How much money is needed for a down payment?

Many assume they need to put down 20%, but that's not always the case! Depending on the type of loan you qualify for, your down payment could be as low as 3-5%. Did you know? First-time homebuyer programs and grants can assist with down payment costs, making homeownership more accessible than you think!

3. What costs should one expect besides the down payment?

You'll need to budget for closing costs, which typically range from 2-5% of the home's purchase price. These costs cover things like lender fees, title insurance, and appraisal fees. Don't forget to factor in expenses for a home inspection, moving costs, and any immediate repairs or updates you might want to make after you move in. 

Buying your first home does not have to be intimidating. With the right knowledge and our support, you can make the best decisions that set you up for success!
So, what do you think? Are you ready to purchase your next home? Let's chat! 

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