First-Time Homebuyer Guide
Nervous about buying a home? Our guide's got you covered!
Is Buying A Home Right For You?
Every Situation is Unique!
Knowing when to buy can be tricky. Here are some things to think about before you start looking for a new home.
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Do you plan to stay in one place for the next 1-2 years?
If you have plans to move, it may be best to wait to buy a home. -
Do you have a steady source of income? Can you afford to pay a monthly mortgage?
See Homebuying Costs for details about mortgage expenses and monthly payments. -
Do you have good credit or a source for building your credit?
Click Here for credit details and more information. -
Do you have money saved?
See Homebuying Costs for potential costs before and after buying your home. -
Do you anticipate any upcoming life changes, such as a new job or large purchase?
These can affect the homebuying process but might not be a deal-breaker. Click Here for more on credit and how it can affect your process.
Buying vs. Renting
Is buying a home better than renting? It depends! Let's compare:
Renting is typically a great option for individuals who:
- Are likely to move in 1-2 years.
- Prefer to avoid paying maintenance costs such as appliance repairs or replacement.
- Currently have no or minimal savings that could be applied toward a down payment on a home.
Owning a home can be a great option for individuals who:
- Are not likely to move in the next 1-2 years.
- Enjoy home maintenance or improvement projects, and have savings for future repairs.
- Have enough money saved for associated homebuying costs.
Before You Dive In
If you’ve decided you want to buy, or even if you’re still considering your options, here’s a quick list of things to keep in mind as you navigate the homebuying process:
- Keep in mind there will be costs both during and after buying your home. Check out This Page for more details on this.
- A real estate agent can help you find your new home. The home seller often covers their fee, rather than the home buyer.
- Your loan officer will guide you through the pre-qualification process and help you get the funds for your home loan (known as a mortgage). They’ll also work closely with your real estate agent. See: Getting Pre-Qualified and Finding Your Home.
- Homebuying can move quickly, so you’ll need to share your personal info and documents with your loan officer and agent on time. Make sure you’re ready to keep things moving smoothly—ask your loan officer what you can have ready in advance.
Homebuying Costs: Before and After
Explore and understand common expenses to consider before and after buying your home.
First-Time Homebuyer Main Page
Nervous about buying a home? Our guide's got you covered!
Homebuying Costs
Don't get caught by surprise. Get a clear picture of what to expect during your home buying process.
Credit Guide
Good credit is crucial! Explore what to look for and what it mean on your credit report.
Get Pre-Qualified
Getting pre-qualified is the first step. Learn how to do it and what it mean.