First Time Home Buyer Assistance – Everything You Need To Know 2019

Planning to buy a new home? However, it’s easy to plan everything, but becomes difficult when you put your thoughts into actions as it’s a long process of credit card score, credit card history, down payment mortgage etc.

First Time Home Buyer Assistance

Why do you need the buyer assistance?

This term justifies the action of helping someone by sharing their work. What kind of work when it comes to a first-time home buyer. A first-time home buyer might not know from where to begin the process.

What we are seeing these days is just an increasing rate of down payment mortgage and credit card score. It might make the situation difficult for the ones who have low credit score and low down payment savings.

It’s especially difficult for the young families to save cash for the down payment as they have other loans to pay. It could be educational loan or something else. So it makes a real sort of cash flow problem.

However, with the help of first- time home buyer assistance it’s makes easy to choose the correct pathway for your further process to buy a home.


Find a real estate agent

Everybody knows that buying a house is a complex process and a lot of paperwork will be coming towards like a tornado, so the easiest way to deal with it is finding a good broker or a real estate agent who can help you at every step for your home buying process about the market value, credit card score on the basis of much you can afford, down payment mortgage etc.

Buying a home is a long process and finding someone familiar who can deal with the process and guide you along is all what you need and a real estate agent could become a lifeline for you in this long run.

However, it is more important to educate yourself first about all the process that you would go through in the future for home buying process  before trusting any agent ,so no one can make fool out of you.  It is a matter of legal entity and money that you’ll put in this process. Collect all the necessary information regarding the home buying process it would be better if someone who bought a house earlier can guide you.


10 Steps in the Home Buying Process

You’ve crunched the number, thought about your lifestyle and made a decision to buy a home. It can be a stressful and a complicated process, but knowing what to call off can reduce some stress.

To help in building your own dream home, here is a step by step process to guide you in the process.

  1. Check your credit score and report

First Time Home Buyer Assistance 2019

Check your credit card ability before contacting to a lender. Having the information in hand before consulting to a lender would be advantage for you. The credit card report should cover the following parts.

  • Payment history: payment history will be a prove that you have paid all your bills on time.
  • Amount owed: how much money you can afford to own?
  • Length of credit history: your credit card history will show, from how long you’ve been borrowing money?
  1. Figure out how much money you can afford

Get a check on how much money you can afford to buy a new home. Just because you have huge savings does not mean you want to have huge payment each month. Use the mortgage affordability calculator it will help you to determine how much you can afford.

Now it’s time to go for a research on house marketing that what your money affordability will get you.

  1. Find a real estate agent

Finding a real estate agent is a real job before involving into any legal formalities for house ownership. An estate agent will guide you through your entire house owning process with financial guidance and with credit card score affordability. Your agent is your chief advocate, confident and hand holder in all the process so make sure you find a good fit.

  1. Get pre-approved by a lender

It’s a smart move to get a pre- approved letter from your lender. It will give surety to the seller that you will be approved for a loan large enough to purchase their home.

Pre- approved requires the lender to pull the credit information in terms of your financial ability. This simple process will get you one step closer to your house ownership.

  1. Start looking at homes

Step five is the step you have been waiting for all this while. Now the real shopping begins. By the time you and your agent knows that what you have been looking for, all the major icebergs have been sorted in this meantime regarding your credit score, down payment mortgage and every issue related to financial circumstances. Look at the listing online with your agent to fully clarify how you want your house to be. Rest will came up shortly.

  1. Make an offer

This is another step to get you more closer to your home buying process.  remember , the listing price was just the starting. Your agent will help you for making an attractive offer to understand the market whether it’s below or at above listing price. These are all the things your agent will help you with.

Once you’ve submitted the offer you simply have to wait whether your offer will be accepted by the other party or not. If the outcome of your submission is yes, then it’s a win situation or if it is a no, then get back to step 5 and repeat the process.

  1. Home inspection day

Once you’ve successfully proceeded with the step 6 it’s now time to inspect the house. You get to have a home inspector look over the house to make sure there are no defects you want to be fixed.

Measure things at first sight. Get a proper check on each and every detail of the house before signing the deal.

  1. Get a home insurance

Now that you have crossed all the major part of owning a house this is an another critical part for getting house ownership. You have to contact you home insurance agent before moving into the house. Even if you don’t have  a mortgage , insurance is a critical part to save your investments.

  1. Closing day

You’ve come a long way now it’s time to relax. The next two steps are nothing but just a breath of relief. You’ll read and sign all the related documents of getting house ownership.

Until this step just stabilizes all you utility needs because entering into a cold dark room does not make any sense.

  1. Get the keys and step in

This is it, it’s your finish line and a joy of victory for owning a house. You are now the owner of the house. You have just ended a stressful process of house owning and it’s time to enjoy the adventure of house ownership.


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