First Time Home Buyer Assistance
You are beginning your journey as a first time home buyer. There will be many steps to complete in your process, but they will be well worth the benefits. Whether your first home is a step-up home, a long-term home, or an investment home, we will review your purpose and create options for you.
Step-up home: 5 years or less
Long term home: 10 years or more
Investment home: keep as a rental after purchasing a second home
Benefits of Being a First Time Home Buyer
There are many benefits of homeownership. These include personal advantages, such as having the security of your home as well as the freedom of choice and expression. There are also financial benefits including tax advantages, real estate appreciation over time, and the “silent savings” aspect. You have the ability to pay a little extra on your monthly payment and have that entire amount applied to the principal balance of the loan. This will pay down principle to build up your equity over time. It is surprising how a little extra applied to principal on a consistent basis can possibly take years off the life of the loan.
Steps toward buying your first home:
- Review your purpose.
- Understand your options with a professional.
- Begin the pre-approval process by reviewing your credit, income and assets to see what you can afford.
- Consult with a real estate agent.
- Find the right home.
- Negotiate your offer.
- Pass inspection.
- Appraise the value of your property.
- Finance your home!
Our first time home buyer programs allow people that have never owned real estate an opportunity to gather necessary information and resources to make the buying decisions easier. We would love to engage with you in a conversation about becoming a first time home buyer. Get started with us online, or give us a call to speak with one of our lending solutions officers.