| First time home buyers face many challenges | | | | the specifics involved in between making your |
| in understanding the process of purchasing a | | | | initial offer and the final acceptance of the |
| home, obtaining a mortgage, and knowing which | | | | offer from the seller. Ask about the |
| type of loan will best suit their needs. | | | | settlement costs, the down payment amount |
| Advice from well meaning loved ones can be | | | | that you may need, and the length of time |
| helpful, but buying a home is a major | | | | involved between the acceptance of your offer |
| financial commitment and you would be wise to | | | | and the final closing date. |
| educate yourself on the home buying process | | | | |
| before taking the first step. | | | | Make sure you understand your credit |
| | | | situation and what it means to you as far as |
| When you make the decision to purchase a | | | | applying for a mortgage. Down payment |
| home, talk with a real estate agent who can | | | | requirements and the interest rate you will |
| give you expert advice and valuable | | | | receive are directly related to your credit |
| information. The purpose of this initial | | | | score. You should be aware of exactly what is |
| meeting is not to sign a representation | | | | on your credit report before beginning the |
| agreement with the real estate agent, but | | | | home buying process. |
| instead to make yourself aware of local real | | | | |
| estate customs in your particular area. If | | | | These tips will give you a good start in |
| the agent has no time to discuss the home | | | | making wise decisions when you purchase your |
| buying process with you, then keep looking | | | | first home. Keep in mind that buying a home |
| until you find one who will. A good real | | | | can be stressful at times and that a calm |
| estate agent will offer you information on | | | | attitude and the ability to cope with any |
| the local real estate market and give you an | | | | issues that may arise calmly will make the |
| idea of the types of mortgage products that | | | | purchase of your first home a more pleasant |
| are available to you. A mortgage broker or | | | | experience. Buying your first home is one of |
| lender can also give you valuable information | | | | the most exciting events in your life. Give |
| when you decide to buy a home. | | | | yourself the information you need and take |
| | | | the advice of experts when you begin the home |
| The questions you should ask the real estate | | | | buying process. The experience will be less |
| agent or mortgage broker include how to make | | | | stressful and you will benefit from the |
| an offer on a home you wish to purchase and | | | | knowledge you have gained. |