Helping First Home Buyers find their Dream Home

Quote from a former client: “My husband and I were 25 when we thought about buying our first home. However, we felt there were many things that held us back. We didn’t make enough money, we had too much debt, where would we find a house…is this even something we could do?

Susie sat down with us and walked us through the process from start to finish about buying a home. She had recommendations for mortgage brokers (private or banks). She walked us through the application to prequalify and then she spent time with us looking at house after house as we tried to decide what was important to us. Turns out some of the stuff we thought we wanted, we didn’t need. On the flip side, some of the stuff we never considered became deal breakers.

It all felt like a whirlwind, but we went from not knowing what we wanted or how to proceed to signing our mortgage in no time! We love our first home.”

I hear this kind of story all the time. People hesitate to buy their first home because of all the unknowns. They ask the same questions as the couple above: do I make enough? What about my debt? How do I even start?

The answers are easier than you think. The easiest and simplest way to begin this process is to sit down with me and talk all this through. We can meet for coffee while I give you my handout on tips and tricks for a first-time home buyer. This is a no-obligation meeting, but it’s just to help you have some action steps in mind to start the process before we begin looking at houses.

First Home Buyer FAQs

How do I determine how much house I can afford?

Your monthly budget is just part of the financial equation of buying a home. You need to consider any debt you may have including credit cards, car payments, and student loans, as well as monthly living expenses. The size of your down payment and your interest rate will largely impact your monthly mortgage payment. There are grants and down payment assistance programs available so having an expert mortgage planner advise you is critical.  Use this calculator to determine what price range you can afford. Enter details about your income, monthly debt, and down payment to find a home within your budget: Affordability Calculator

Why I need to get preapproved before my home search?

One of the most important steps during the home buying process is obtaining financing.  Many sellers will require a pre-approval letter before they will accept an offer on their home. There are many different types of mortgages available. When buying a home, it’s important for a buyer to know the best type of mortgage best suits their needs. This article explains the process of getting pre-approved for a home: Preapproval Process

How can I find the right mortgage broker or banker?

Finding the right mortgage broker or lender is very personal.  You need to find the person who you will feel most comfortable with sharing your finances.  There are many options; your bank, a mortgage broker or a mortgage lender.  You will need to check to see what type of mortgages they offer, what are their rates, are if there any other fees for using that company.  Here are a few that I have used in the past (Local Lenders). It is always a good idea to check multiple financial sources before you decide to purchase your first home!

What Other Expenses Should I Expect When Buying a House for the First Time?

When buying a home, most people focus on the price of the house and what interest rate they can get on their mortgage loan. While knowing these costs is very important, they aren’t the only expenses you’ll encounter on your journey toward home ownership. You may need to have money on hand for earnest money, sometimes this is called a good faith deposit. Some closing costs are paid upfront,  while other fees can be rolled into your home loan and paid as part of your mortgage payment. Understanding both sets of fees is critical to ensuring a successful, affordable home purchase.  (PDF coming soon)