The journey to becoming a first-time home owner can be confusing if you’re not sure where to start. Luckily, there are many resources out there that can help you better understand the process.
10 Great Resources to Help First Time Home Owners
Here are a few of the best resources that first time homeowners have at their disposal.
1. Your Buyer’s Agent
Every would-be first-time home owner needs to work with a buyer’s agent. They’ll help you find the right house and negotiate on your behalf with the seller.
2. Federal Housing Authority
The FHA offers low-interest loans geared toward first-time home owners. These loans make it easier to buy homes with lower down payments and lower income levels.
3. State Programs
Every state has first-time home owner programs to provide down payment assistance, home ownership education classes, and guidance for new buyers. Keep in mind that these programs vary from state to state.
4. The MLS
The easiest way to look at prospective properties is on the internet. The MLS allows you to view properties on sites like Zillow without leaving your home.
5. National Association of Realtors
The National Association of Realtors offers free educational articles to help you better understand your options and can help you find qualified real estate professionals in the cities you’re interested in.
6. Your Insurance Agent
Homeowners insurance is required to qualify for most mortgages. Your insurance agent can help you figure out how much coverage you need and find policies that will help you stick to your budget each month.
7. Your Mortgage Broker
Finding the right loan is the hardest part of becoming a first-time home owner. Your trusted mortgage broker will work with you to find a loan for your new house.
8. Fannie Mae
Fannie Mae is best known for their first-time buyer loans, but they also provide tons of helpful information on how to become a responsible owner.
9. Your Personal Network
If your friends, family, and coworkers have bought homes in the past, use this to your advantage. Reach out to them for advice if you feel stuck or confused.
10. Your Accountant
Buying a house allows you to take advantage of certain tax credits. Your accountant can let you know how your new home will impact your total tax liability.
Use These Resources
If you’re ready to become a first-time home owner, use these resources now and reach out to our team to get help finding the best loan.