Bob Kutschbach, owner and broker of Carleton Realty, talks about being a first-time homebuyer.
Carleton Realty has always worked with first-time homebuyers to show them all the benefits available to help them on their way to homeownership. There are a number of programs, mostly government-sponsored, that help with down payment assistance, lower interest rates, and closing costs.
The first thing that a first time home buyer needs to do is find a good real estate agent. A knowledgeable real estate agent can help you determine what kind of loan best suits your needs. There are many different factors that go into determining which products you qualify for. One of the factors is the down payment source. There are many down payment assistance programs that you may qualify for. Other factors are how much income you make, how much debt you have, and what your payments are for those debts. Depending on your debt to income ratios and the amount of money for a down payment that you have, you may qualify for different kinds of loans, such as FHA, conventional, VA, and rural development loans. Your real estate agent can help you identify which types of loans you want to seek out and which lenders do those kinds of loans.
Carleton Realty has its own down payment assistance brochure which outlines many of the down payment assistance programs that are available to homebuyers, not just first-time homebuyers.
A good real estate agent will guide you, not just on neighborhoods and floor plans but also on how to negotiate a transaction to be a competitive buyer. Our market today is very competitive and we have many tips and techniques to make our clients more successful than the average home buyer.
If you are a first-time home buyer please call one of our agents for tips, techniques and advice on how to navigate the home buying process!