Tuesday, November 6, 2018

First-Time Homebuyer FAQs

If you're a first-time homebuyer, you may have a lot of questions about what's actually involved in buying a home. For those that are looking to start their house hunt, here are a few of the most frequently asked questions about buying your first home:

Question: What’s the first thing I should do when I buy a home?
Answer: Step 1 should always get pre-approved for your mortgage. Once you know how much you can afford, you can then start your search for an agent who can assist you with your home buying process. Interested in getting pre-approved? Check out to find out how.

Question: How much money should I have for a down payment on my home?
Answer: You may have heard 20% is the ideal down payment for your home. But there are loan programs available that require as little as 3% of the purchase price payment down. Check out HUNT Mortgage’s low down payment page for more.

Question: How long does it take to find a home?
Answer: The true answer is it is different for every home buyer. According to NAR statistics, the average homebuyer took 10 weeks to find their home and looked at an average of 10 houses.

Question: What does a real estate sales professional do for me as a home buyer?
Answer: A short answer: EVERYTHING! Your real estate sales professional is here to guide you through every step of the home buying process.

Question: What do I pay to work with a real estate sales professional?
Answer: Nothing. You should never have to pay to work with a real estate professional when buying a home.

If you're ready to take the first step towards buying a home, please reach out to one of our local real estate sales professionals. They will be happy to guide you through the home buying process and answer all of your questions!