How do I purchase my first home?

The Intelligencer, August, 2010 by Mary Lou Erk

With interest rates historically low, this is a great time for first time buyers! This is a very exciting time for you but it can be overwhelming if you are not prepared. Before you start viewing properties you need to do two things. 1) Consult with an experienced Realtor and 2) meet with a mortgage lender to determine what you can afford. The Realtor will explain the home buying process from beginning to end, discuss the forms used and all the costs associated with the purchase of the home. The mortgage lender will pre-qualify and/or pre-approve you so there is no guess work on what you can afford. Sometimes a buyer can afford a larger mortgage payment, but is not comfortable with a higher payment. This should be discussed with both the lender and Realtor before an offer is made. There are a variety of first-time buyer programs available. With a pre-qualification or even better, a pre-approval in hand, you will increase your chances of getting the home you desire. A buyer’s guidebook is available upon request to help you with understanding the home buying process. I look forward to working with you soon!