First Time Home Buyers - Home Buying Process

What do first time home buyers need to do to start the home buying loan process. Find a wealth of information to help you start the mortgage for buying that first home.

This section of my website is designed to help you through the buying process. Most people, when they make the decision to buy a home, start off with looking for the house of their dreams and then see if they can qualify for a mortgage loan.

That is not the best way to begin. There are a lot of disappointments that way. You find the house you like and then you find out you can't afford it or that you don't qualify for a loan in the first place.

So before you begin there are some decisions you need to make:

If you're renting, should I stay renting or is it a good idea for me to buy right now?

If I decide I'm ready to buy, how do I choose a mortgage company?

Or what's the difference with going with a mortgage broker or a mortgage banker?

What are the first time home buyer qualifications in the first place?

Are there any benefits, to buying a home?

Once you have those questions answered, you may be ready to meet with that mortgage professional. Be sure to take time to explore all the options for first time home buyers as well.

I also have some lenders secrets that will help you get the best service from your mortgage professional. The more in the know you are the harder it is to be scammed.

Usually you will be started off with a mortgage loan application and a credit report will be pulled. The credit report will help the mortgage professional identify whether you are a good candidate for a mortgage.

If you have stellar credit, get ready, you’re now going to expose your underwear drawer!!! What? That's right, you're underwear drawer. What I mean is your most private information. If will feel like all your underwear is out in the open. Don’t be surprised with what you will have to give them. You will really feel exposed, but remember they need this information before they can give you any money. So don’t fight it or lie. Give them what they ask and remember they will qualify every statement you make by asking for proof. So don’t make statements you can’t back up.

Be sure to read the after the mortgage application so you don’t sabotage the application process. It’s amazing the decisions people made after the application that disqualified them. Now there are things you can do to help the mortgage process so it goes smoothly.

Be patient, your mortgage professional will help you see how much you qualify for that home loan. Once that happens, you can begin looking for that first home!!!

If you would like to understand more about the total mortgage payment, be sure to check out my Total Mortgage Payment page. It will help you understand how they come up with that monthly payment.

There are also several mortgage calculators to help you estimate that mortgage payment and any other parts of the mortgage process.

You may consider a first time home buyers checklist to make sure you have dotted all your i’s and crossed all your t’s.

There are some other valuable information included you may want to consider:

Are there any other benefits to buying a home?

What about first time home buyers taxes?

Is there a first time home buyers act in place to help me?

What are escrow accounts and why do I need to set one up?

Sometimes, during this buying application process, you find out you are denied a mortgage. Don’t get discouraged, follow the steps on my page Denied a Mortgage Loan, What Can You Do. All is not lost, but there may be some things you need to do so you can qualify.

It is so much fun to buy that first home, so get started and soon you’ll be moving in.

Return to First Time Home Buyer Solutions home page.