Making the decision to purchase a home can be very exciting, but we know that it can also bring about a lot of questions and concerns. It’s a very big decision especially for a first time home buyer and at North Star Mortgage Network, we want to do whatever we can to help you along the way.

Are You Ready?

Although buying a home can seems like a pretty big step in your life, it doesn’t mean it’s not possible. The first you want to do when you consider buying a home is research. The internet can provide you with lots of information but you can use local resources too. Don’t hesitate to ask friends and family about their experience when they are in the market to buy a home. Everyone is going to have a different home buying experience depending on a number of factors, but the one thing that you can do make the process a little easier on yourself is to learn as much as you can before discussing things with a lender.

Where Do I Start?

The first thing you should do is think about where you really want to live and research the area. If you plan on living in this home for a substantial amount of time, you will want to know as much as you can about the area. For example, look at the school districts, other home values, and even the distance to the grocery store. All these things will matter when you plan on buying a home that you’ll be in for a significant part of your life.

Don’t Hesitate to Ask For Help

First time home buyers do have options for assistance if they aren’t able to come up with a large down payment. It’s important to look into all options in your area as they may require little or no money down when purchasing a home.

There are a few programs that can be helpful to first time home buyers:

  • VA Loans are useful to those members that have served in the military. They are guaranteed by the US Department of Veterans Affairs and allow buyers to put nothing down when purchasing a home.
  • USDA Loans are useful to those buyers that want to purchase in rural areas and are financed by the US Department of Agriculture.
  • FHA Loans are great for first time home buyers because they allow for very small down payments, lower than even 5% for qualified buyers.

Should I Work With an Agent?

An agent can take a lot of the stress out of the process by finding homes that work with your budget and often have connections to homes that have yet to hit the market. They can also assist when it comes to getting an inspection and submitting an offer.

If you are purchasing a home and are not working with an agent, you will have to make sure you are doing a lot of research when you are further along in the process because these decisions can save or cost you quite a bit in the long run.

Give Us a Call!

Buying a home can be exciting, scary, overwhelming and much much more but we want to help you make the process as easy as possible. Reach out to North Star Mortgage Network Inc in Jacksonville, FL today so we can find you your dream home!