What You Need Before Buying Your First Home

What You Need Before Buying Your First Home

Buying a house is a big step and you need to make sure you are adequately prepared for it. Before you make your purchase, there are a few things you will need to do. These things will help you have a better experience as you go through the process.

What You Need Before Buying Your First Home: A Down Payment

In order to actually purchase your home, you will need to make an initial down payment. This payment is a portion of the total cost that stands as your first contribution to the home, while the mortgage lender covers the rest of the money. The size of your down payment varies depending on the type of loan that you get as well as the circumstances surrounding the sale. While the amount of the minimum down payment varies, there are advantages to having a larger down payment. These include having lower interest rates on your mortgage, lower mortgage payments, and greater equity in your home from the start. Before you purchase your home, begin saving up a down payment.

Apply for a Mortgage Loan

It is unlikely that you will be able to pay the full amount for your home up front. This is why you need to apply for a mortgage loan. Once you’ve made the down payment, the mortgage lender covers the rest of the money for the home and you will then pay them back over time. In order to qualify for a mortgage, the lender will look at several factors including your income, employment, and debt. One of the biggest factors that influence whether or not you qualify is your credit score. A low credit score could prevent you from getting a loan. Government-backed loans such as FHA and USDA loans can help if you have a low credit score. It’s helpful to spend some time researching your mortgage loan options.

What You Need Before Buying Your First Home: Find a Real Estate Agent

Your first time buying your house can be tricky because you’ve never experienced it before. To help you, consider hiring a real estate agent. Your real estate agent can expertly guide you through the process and help you find a home that is right for you. They are experienced in the market and the local area. In most cases, they also have connections with local vendors and other helpful parties. For your first time, it’s worth it to hire some help.

When you buy your home, you want to make sure you are prepared for the process. Before you get started, take some time to save up, do some research, and find the right time. Doing so will provide you with a smoother experience.

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 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 



 

$5,600,000
Single Family Home For Sale
Pending
5
BEDS
6
TOTAL BATHS
7,000
SQFT
3336 West Riverside Dr
Fort Myers, FL 33901
Riverside Subdivision
New Listing - a week online
$1,795,000
Land For Sale
Active
0.4175
ACRES
LEE
COUNTY
3508 Stuart Ct
Fort Myers, FL 33901
York Manor Subdivision
$5,800,000
Land For Sale
Active
1.3945
ACRES
LEE
COUNTY
1215 & 1233 Braman Ave
Fort Myers, FL 33901
Fort Myers Subdivision
$15,950,000
Single Family Home For Sale
Active
4
BEDS
9
TOTAL BATHS
10,033
SQFT
1240 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 2 weeks online
$890,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,467
SQFT
1249 Osceola Dr
Fort Myers, FL 33901
Riverside Subdivision
$750,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
2
TOTAL BATHS
2,173
SQFT
1250 Braman Ave
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$2,450,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
4
TOTAL BATHS
3,138
SQFT
1209 Coconut Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 2 weeks online
$1,595,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
3,848
SQFT
1266 Gasparilla Dr
Fort Myers, FL 33901
York Manor Subdivision
Price Change - 16 hours ago
$620,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,503
SQFT
1362 Braman Avenue
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$1,995,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 3 days online
$1,377,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,589
SQFT
1344 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
$475,000
Single Family Home For Sale
Pending
4
BEDS
2
TOTAL BATHS
2,542
SQFT
1377 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
Price Change - 3 days ago
$650,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
1,950
SQFT
1250 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
$6,000,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
New Listing - 5 hours online
$989,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,829
SQFT
1388 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
Price Change - 2 weeks ago
$499,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 3 weeks online
$5,900,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
5,093
SQFT
3914 W Riverside Dr
Fort Myers, FL 33901
Fort Myers Subdivision
Price Change - 4 days ago
$1,385,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,848
SQFT
1434 Alhambra Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 4 weeks online
$3,500,000
Single Family Home For Sale
Pending With Contingencies
5
BEDS
6
TOTAL BATHS
3,470
SQFT
3954 W Riverside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision

 

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