How we help
First time home buying can be scary. Most people don’t understand how easy it can be and the programs available to help make home ownership a reality. That’s where we come in…we guide you through the process and show you how to take advantage of the programs, incentives and special new home builder opportunities. We do this in a consultative fashion based on your needs.
When starting the process of a home purchase, credit scores and income to debt ratios are critical in the loan approval process. We want to make sure you are in the best position before we pre-qualify you for your FHA loan / mortgage. Once this is complete we go into new home builder options. This will be based on location, the type of home you can afford that is best for your needs.
The approach we take is simple:
- Obtain a credit report from all three credit agencies - Experian, Equifax and Transunion. We will review the report with you to verify that it’s accurate and to identify and mistakes or opportunities to improve your score quickly.
- Analyze all current monthly bills to see how we can optimize spend and reduce monthly burn…establishing more usable income. This would include – credit cards, internet & tv service, cellular phone plan, insurance – auto, health etc. We will want to take advantage of any savings we can and promotions to help spin off savings.
- Understand income and calculate the amount you can spend on your new home so we know what criteria we have in looking for the best new home option.
- Pre-qualify for a FHA backed loan to verify approval or determine next steps to obtain an approval. We will connect you with an expert in helping first time home buyers obtain an FHA approved loan. This process is fairly simple but does require a gathering of information
- Determine the amount and best approach to a down payment. There are several options to consider in regards to this. We will discuss the pros and cons of more or less down on your new home.
- Start the search for your new home. We know the best option for first time home buyers is new construction. Most first time home buyers think new construction is going to be too expensive, but this isn’t the case. In fact it’s the best option. New homes get the best financing rates, down payment concessions, efficiency rating and most importantly…a warranty that covers your home for up to 10 years. We have access to all the best floor plans for your location and budget. We make a complicate process simple.
- Lastly we can look at the MLS listings and off market properties if you don’t want to go with new construction. We will manage the entire process with you and if needed, assist you in finding a trusted realtor.