First Time Buyers

Buying your first home is an exciting experience. Your real estate professional is an expert at making you an educated buyer before you even begin the home shopping process.

Following is a list of five top things you can research before heading out to buy your first home:

1. How's your credit? Many first-time homebuyers are unaware of their credit rating. You can find out about your credit score through a mortgage professional or lender, or you can also obtain your score online on websites such as

first time buyers

2. Mortgage calculators. Virtually all mortgage professionals and lenders offer helpful calculators to help you determine how much you can afford to spend on a home based on monthly mortgage payment amounts. Your current income and debts, among other things, are taken into consideration during this process.

3. Obtain a pre-approval. Your mortgage professional or lender representative can help you obtain a pre-approval so you know exactly what you can afford to spend on a home.

4. Determine your down payment. Homebuyers today can make a purchase for as little as little as just a few percent down.

5. Consider closing costs. Closing costs must be taken into account when making a home purchase. These are costs above and beyond your down payment and monthly mortgage payments, and include such things as legal fees, property tax and utility adjustment costs.