Your Guide to Savvy Homebuying
Be a Savvy Homebuyer ®
Find your dream home with expert guidance and personalized support
Understanding The Homebuying Process
Buying a home doesn’t have to be complicated, frustrating, and scary. Our streamlined process has educated, empowered, and helped thousands of people to achieve their dream of owning a home.
Boost Your Home Buying Power
The only way to truly know your homebuying power is by getting pre-approved by a mortgage expert. It is crucial as it provides a clear understanding of your budget, allowing you to search for homes within your price range and saving you time and effort.
Finding the Best Home Loan
Compare home financing options:
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Boost Your Home Buying Power
To make house hunting easier, it’s helpful to create a list of your must-haves and nice-to-haves, work closely with your real estate agent, and take the time to thoroughly research neighborhoods and properties to find the perfect home that meets your needs and fits your budget.
Make An Offer
The offer sets the terms for the purchase contract. Once you and the seller are in agreement on the price and terms the contract period can start.
During this time have a professional examine the condition of major property systems. Learn more about Problems to Look For in Your Homes Condition.
To confirm the value of the property your mortgage lender will want to verify. A professional valuation is an appraisal.
Close and Move into Your First Home
Lastly, you will sign loan documents, wire a down payment or closing costs and close on your first home!
First-Time Homebuyer Benefits
As a first-time buyer, you have access to federally backed loans, low down payment options, down payment assistance, first-time homebuyer credits, and even tax breaks. The problem is that most first-time homebuyers don’t know about these options! You don’t need a 20% down payment, but you will need to be educated about the programs designed to make your goal of buying a home easier. Loans for first-time homebuyers.
First-Time Homebuyer Qualifications
The U.S. Department of Housing and Urban Development (HUD) provides a broad definition that includes:
- An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers).
- A single parent who has only owned with a former spouse while married.
- An individual who is a displaced homemaker and has only owned with a spouse.
- An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
- An individual who has only owned a property that was not in compliance with state, local, or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
Common Questions from First-Time Homebuyers
“How much can I afford?”
Use our Savvy Mortgage Calculator to find an affordable monthly payment.
“How do I get a mortgage prequalification letter?”
Complete our quick Buyer Power Approval to receive your pre-qualification letter today!
“How much do I need to save for a downpayment?”
Above all your downpayment depends on your personal financial situation, the home loans you have access to, and the area that you are looking to buy. Explore different home loan types and their downpayment requirements here.
“What types of mortgage loans are available to me as a first-time homebuyer?”
First-Time Homebuyers have more lending options than most, including FHA, VA, Conventional, USDA, and Jumbo Loans. There are a number of things to consider when choosing the right loan for you.
“How do I find the right real estate agent near me?”
It is not difficult to find a real estate agent but finding the right one? Here are things to consider when you interview an agent.
“What happens when I get an offer accepted on a home?”
It’s important to understand timelines, appraisals, inspections, and what to expect when your loan is being underwritten.
Expert Real Estate Advice for Homebuyers
Everything you need to know about buying your first home.