So, you are ready to buy your first home? Congratulations!
You may be interested in a single unit property (single family residence, condo, or townhouse) or an owner occupied multi-unit residential property (duplex, triplex or fourplex). Either way, if this is your first time taking out a mortgage, here are a few things you need to know about first time home buyer mortgage loans:
#1: There are special loans and loan programs designed just for you!
#2: Pre-approval will vastly improve your chances of having your offer accepted
For detailed information about why this is recommended and how to get pre-approved, read our article Why Get Pre Approved and follow the enclosed links.
#3: You may be able to get a loan, whether or not you have the money for a down payment
There are different types of first-time home buyer mortgage loan programs; variations are impacted by your credit scores/credit history, type of job, income level, available funds, and property location. The short answer is this:
No matter where you are in your life, your credit history, or accumulated savings, talk to us.
We have access to programs that will provide you with the funds to purchase your first home whether you have:
- limited credit (shorter length of time)
- limited credit breadth (lacking multiple types of credit)
- lower credit score
- less money for a down payment, or
- any combination of these.