Considering buying a home for the first time? This can be one of the
most important, exciting and intimidating decisions of your life.
Becoming a home owner is just about every Americans dream. You most
likely have tons of questions about being a home owner. Where do I
start? Am I ready to own a home? What can I expect? Before you begin
searching for that dream home, finding out how much you can afford is
the best place to start.

Find a reputable lender, if you have a Realtor get a
referral from them. Real estate agents deal with Mortgage lenders on a
daily basis so they can be a good person to ask who to contact. Lenders
look at your credit score, income and debt-to-income ratio and will give
you a pre-approval with an interest rate based on those factors. A
pre-approval is not always a guarantee for financing but a good way to
know what you may be able to afford and an opportunity for you to
compare mortgage programs offered by different lenders. Once you enter
the pre-qualification process, do not make any major purchases that will
show on your credit. Buying a car, taking out a personal loan, etc is a
good way to lose out on that dream home. Lenders will typically deny a
home loan after a major purchase is made.

Next, if you have not
done so already, find the right agent to represent you. Your real estate
buying agent is your eyes and ears in the professional side of home
buying. Having the right agent can make this experience an exciting and
positive one rather than scary and confusing! Contact an agent in the
area you are looking to move to. A local agent will be very familiar
with the area and will able to recommend certain neighborhoods that
would suit you and your family’s lifestyle. Turning to family and
friends for recommendations is also a good way to find a reputable
Realtor Be sure your agent knows exactly what you are looking for and
what you are able to spend. There are also some programs that are
assigned to assist first time home buyers. Your agent can also help you
with these.

Many programs are designed for first time homebuyers with benefits like
down-payment assistance and the option of no closing costs. Some
lenders offer a competitive interest rate to the first time home buyer
aimed at making borrowing easier.

Approaching the home-buying
process prepared will make it a breeze for you. If you are thinking of
buying for the first time, do your research and plan for your purchase.
Taking this step will make you educated in the procedures needed to give
you the best chance of finding the right home for you at the best
price!