Forgotten Your Password?

Need to Register?

First Time Home Buyer Articles

Buying Your First Home, The Survival Guide: Getting Pre-Approved
Editor’s Note: This article is the first in Lender411’s Buying Your First Home, The Survival Guide trilogy. Skip to the second entry, Calculating Costs or the third, Choosing a House.. If you grew up in America, it's possible you’ve spent time gazing at...
Buying Your First Home, The Survival Guide: Calculating Costs
Editor's Note: This article is the second in Lender411's Buying Your First Home, The Survival Guide trilogy. Skip to the first entry, Getting Pre-Approved or the third, Choosing a House.. Part Two: Calculating CostsFollowing mortgage loan pre-approval, you will...
Buying Your First Home, The Survival Guide: Choosing a Home
Editor’s Note: This article is the third in Lender411’s Buying Your First Home, The Survival Guide trilogy. Skip to the first entry, Getting Pre-Approved or the second, Calculating Costs.. Part Three: Choosing a HouseOnce you have an accurate estimate of your...
7 Sins of First Time Home Buyers
Rookie mistakes can be difficult to avoid for many first time home buyers. Beside the challenges of finding the perfect home and negotiating the sale, navigating the mortgage loan process is no easy feat.. The temptation to gloss over the details and dive right into the fun part...
Tax Advice for First Time Home Buyers
For many first time home buyers, the experience of owning your own home is an exhilarating one. Although things can seem a tad overwhelming during tax time, this is a great opportunity to learn more about the various tax write-offs that may ease the financial burden of owning a...
FHA Loans for First Time Home Buyers
FHA Loans are a popular choice with many first time buyers. Some people think that FHA stands for the Federal Housing Authority, but it actually stands for the Federal Housing Administration. Following the subprime mortgage crisis, it has become increasingly difficult for...
First Time Home Buyer Down Payment
For many first time home buyers, down payments can be a significant obstacle to obtaining a mortgage loan, as most home loans require sizeable sums up-front. This article will let you know what options are available to every type of first time homebuyer.. Down Payment...
Loan Programs for First Time Buyers
In order to be eligible for one of the many First Time Home Buyer programs, the buyer does not necessarily have to be purchasing their first home ever. It is also possible to qualify as a first time buyer  if you have not owned a home in the past three years.. There are...
7 Questions to Ask Your Lender
The process of qualifying for a home loan is intricate and can often overwhelm first time buyers. Prospective borrowers should consult a lender for all specific or senitive mortgage related questions.. However, in order to optimize your consultation with your lender, you...
Build or Buy ?
You’re a first time home buyer  and you’re preparing for a home purchase.  With home prices as low as they are at present, it’s a buyer’s market.  Hundreds of good homes remain unfilled and ready for purchase.. But you don’t have...
Should I Buy a Home?
Can I purchase a home? This great guide will help you answer that question and quickly get you on the road to home ownership!. Why should I buy, instead of renting?Your home is an investment. When you are renting, you write a monthly check, and that money is gone forever. However,...
8 Expenses to Expect When You Purchase Your Home
If you're a first time home buyer, you may not know what to expect when starting the home purchase process.  You may know that it's generally a better financial move to buy a home than rent one.  You may have decided you need additional space.  You may be...
First Time Home Buyer Mistakes
Some first time home buyers jump into the shopping process without developing a strategy. Here are some tips to help you make a plan and stay sharp.. Don't Look For A Home Before You Get A Loan – It's like putting the cart before the horse. First timers should not start...
6 Steps to Get Pre-Approved
Before you begin house hunting, make sure to get pre-approved by an accredited lender. A pre-approval letter tells the home seller that you are qualified and serious about purchasing the home. The pre-approval will also guide you in selecting a home within your loan limit...
6 Steps to Get Pre-Approved
Before you begin house hunting, make sure to get pre-approved by an accredited lender. A pre-approval letter tells the home seller that you are qualified and serious about purchasing the home. The pre-approval will also guide you in selecting a home within your loan limit...
How to Stop Paying Rent
Housing is a precious commodity that we all need every day. It's your choice to rent or to own, yet buying a home for yourself usually beats buying one for your landlord.If you don’t intend to stay in your home long, need extra mobility or are unsure about your...
How to Make an Offer on a House
There’s no doubt that this housing market is one of the most competitive markets that has been seen by this nation in a very long time. So does that mean your chance of throwing out a lowball offer is completely shot? Not if you take the right steps at the right times. Here are...
What Is Mortgage Escrow?
Mortgage escrow accounts let borrowers build up money for homeowners’ policy premiums and property taxes gradually.  Escrow accounts are recommended for first time home buyers because buyers will be able to avoid surprises such as missed payments. Lenders...
Should I Rent or Buy?
Renting is generally simpler, and owning is a wiser investment. But which is the right choice? Here are a few things to consider:. How is your Credit Score?One of the primary advantages of home ownership is that your home serves as a vehicle through which you gain equity. Because...
What I Wish I Knew Before Buying a Home
Buying a home is one of the biggest decisions you’ll make in your whole life.  However, you don’t have to go through the process without any advice.  Here is some advice that has been compiled from homebuyers and homeowners who have already gone through...
7 Reasons Why You Should Get a Mortgage Right Now
1.Mortgage rates are lowCurrent mortgage rates remain at historic lows, despite some minor increases. Mortgage rates have not increased enough to crash the refinance or purchase market, and even if rates continue to show upward movement, there is not enough market pressure...
Housing Crisis Creates Savvy Young Homebuyers
While the housing market downturn caused many prospective buyers to proceed with caution, a recent survey discovered that members of Generation X and Generation Y continue to actively pursue the dream of home ownership.. The survey, conducted by Better Homes and Gardens...
7 Tips for First Time Home Buyers
First time home buyers face a lot of big decisions during the home purchase process.  We understand.  But you can save yourself a load of stress by applying these seven tips to get ahead before you get started.. 1.  Don’t rush into it. You may want to buy a...
Am I Ready To Buy A Home?
Making a home purchase requires careful planning.  It's a major decision, probably one of the most major decisions you'll ever make in your lifetime.  How do you know whether you're ready to buy a home or not?  This question is one of the most...
7 Easy Ways to Mess Up Your First Home Purchase
If you’re a first time home buyer and you’ve never even set foot inside a real estate brokerage, be honest with yourself.  Are you ready to own a home?  More importantly, are you ready to buy a home?  Owning the home is one thing.  Buying it, and...
Why Home Flaws Are Not Always Faults
For first time buyers, going home shopping is an exciting--though sometimes stressful—experience. Everyone has an idea of how they want their dream home to look. After all, this is going to be a place where you may spend your life, or at the very least several years.. But...
Homebuying Questions
Can I buy a home?In short, yes! This is a great market to find an affordable home while taking advantage of low mortgage rates. However, we understand that every situation is different, which is why we’ve compiled this FAQ for home buyers.. How much debt can I be in while...
What To Look For When Buying A House
Now that you have your lender lined up, your pre-approval letter in hand, and a real estate agent you trust, it's time to go house shopping. However, there are some key features you may now have thought of when making a list of your home wants and needs, especially from a...
What makes borrowers unattractive to lenders?
So, you're a borrower who's ready to get a loan.  You've got all your documents ready, a house in mind, and a readiness to borrow.  However, you still have to keep in mind that your lender needs to approve the loan, and thereby, approve of you.  Here...
Top 5 First Time Home Buyer Mistakes
If you're a first time home buyer and you're preparing for a home purchase, you are embarking on a journey that will likely be hugely rewarding in the long run.  Homeownership offers a number of benefits that can improve your life both personally and financially...
Need A Mortgage? 3 Easy Steps To Get Started
Need a mortgage? The first step to owning a home is often the most daunting--shopping for a mortgage. The days of comparing a few rates among a dozen or so savings and loan companies is gone, replaced by a myriad of loan types available through thousands of banks, mortgage...
Getting A Home: Your Guide To Common Questions
Mortgage rates are sitting near all-time lows, with 30-year, fixed mortgage rates falling steadily. And while they're likely to increase, rates should remain attractive throughout 2012, experts say.. So, perhaps one morning you wake up and realize that buying a...
How To Afford A House: 6 Tips To Get You In A Home
The plunge of housing prices recently may be bad for sellers, but it's a big boon for buyers. Houses are now so inexpensive, consumers who were facing years of renting before the crash in the hopes of saving enough for a home someday far in the future are realizing that they...
First Time Home Buyer and 401K
When it comes to purchasing a home, first time home buyers frequently have trouble gathering the necessary funds to make a sufficient down payment. If you are a First Time Home Buyer with a 401k retirement plan, it is possible to remove funds for a first home down payment either...
How Do I Protect The Investment Value of My New Home?
Your home purchase is the start of a long term investment that has the potential to build hundreds of thousands of dollars of wealth for you in the future.  But if you want to cash in on the funds built through this investment mechanism (either through a sale of the property...
Lifestyle Factors All Homeowners Should Consider
If you're a first time buyer and you've never been through a home purchase before, you'll be better able to get through the process successfully if you've taken the time to educate yourself on how the process works beforehand.  Many...
Rules for First Time Home Buyers
Without the dead weight of a house to sell, first time home buyers have enjoyed optimal conditions for purchasing in the depressed housing market…until recently. A new series of rules, regulations and policies have shifted the landscape, making buying a...
Common Homeowners Association Questions, Answered
What is an HOA?HOA stands for Home Owner Association.  An HOA is an organization of people who own property that upholds the rules of that particular condominium, subdivision, or a development.  These rules administered by the HOA will limit the changes you can do...
How to Get Your Student Loans Forgiven
Student loan debt has had a negative impact on recent college graduates' goals of buying property. Some mortgage programs such as The Federal Housing Administration (FHA) offer mortgages that do not count student loan payments if they are deferred for at least 12 months...
First Time Home Buyer Loans
When searching for a first time home buyer loan, you may be confused and filled with doubt or intimidation.  This is normal.  We understand.  Purchasing a home is a major financial decision, and it’s good that you’re not taking it lightly. It...
How to Prepare For a Mortgage Like a Pro
Before you look for your new house, it is important that you understand and know how to prepare to qualify for a mortgage. Preparing for a mortgage will eliminate confusion and frustration and ensure that the mortgage process goes as smoothly as possible. There are six major...
Buying a Home for the First Time and Completely Totally Lost - Until Now
Buying a home for the first time and have no idea what you're doing? Relax! Use Lender411's simplified guide to navigate the mortgage process. In this article you'll find step by step instructions for getting a mortgage, as well as resources for more in-depth...
First Time Home Buyer Down Payment Financing Alternatives
According to the National Association of Realtors, 38% of all home buyers were first timers in 2013. This study also found that the average first time home buyer was married, 31 years old, and had annual income of $67,400. The NAR also found that two-thirds of all first time home...
7 Unforgettable Mortgage Horror Stories
We asked our most active mortgage lenders to recount and relive their darkest nightmares. Here you will read tales about negligence, hubris, and plain horrible fate. If you’re a thinking about buying a home, use these stories as a guide for what not to do when...
Signs You're Not Ready For a Mortgage
Most of our articles are addressed to those who are ready to or want to get a mortgage.  Up until 2014, you might have even thought that you and your spouse were ready to get a mortgage.  However, due to the newly implemented mortgage rules, the ideal borrower profile...
6 Undeniable Reasons to Invest in Real Estate
The benefits of owning a home are undeniably vast. Generally, borrowers will gain the greatest advantages when the property is kept five years or longer. In that case, consider the time-tested spoils:. 1. StabillityBecause even the most wild, free-spirited people want their...
How Can I Secure a Low Interest Rate During Federal Tapering?
In late December, the Federal Reserve announced that it will be cutting bond buying by $10 billion a month. This represents a big change in the mortgage industry, as the government had previously been purchasing $85 billion in bonds each month (quantitative easing) in order...
Should I Get a Hybrid Mortgage in 2014?
The possibility of higher mortgage rates is here, especially since the Federal Reserve began tapering off their billion dollar bond buying program. Could this mean that we could see a rise in hybrid mortgage originations? Quite possibly. First, we'll look at the reasons...
What You Need To Know About The Mortgage Industry in 2014
The new year brings with it a wide range of changes to the mortgage industry. The President of Southwest Bancop, Joffrey Long, has predicted that Dodd-Frank will cause an increase in mortgage litigation and loan servicing in 2014. Long predicts that there are a few key areas...
How the New Mortgage Rules will Affect Home Buyers
If you’re planning on buying a house in 2014, you’ll most likely be affected by the new mortgage rules that are coming into effect in January. These new rules are the effort of several federal agencies who are hoping to address loose underwriting standards and...
Subscribe to our news feed.