Money

Get the loan.

As a first time home buyer, I recommend that you find a great buyer's agent to help guide you through every step - from securing a pre-approval with your loan officer, and then all the way to the settlement table, and beyond!

$$$$$$$$$$$$$$$$$$$$$$$$$$$

To be pre qualified, to learn if you can or can not get a mortgage. If not, what you have to do n order to be qualified. If so, for what price. The next step is hiring a GREAT buyer broker willing to assist you through each step of the buying process. 

A whole bunch.

Good luck with your studies. 

Are you the buyer or the real estate agent? A lender will review and discuss various scenarios with you.  Feel comfortable with that person as they should be a trusted resource. 

Without the mortgage lender, you won't be buying a house...unless you're paying cash!

all the help you can get, if you can take direction....

A good one that can walk you through the process.

You want advice on the most appropriate programs and a pre-approval letter. Many first time home buyers in our area opt for FHA or VA financing.

All you can get

I wish you all the best with your studies.  

You can get a FREE consultation with any lender to explain the process.

Talk to a lender.  

lenders and loan sources and agents dine on your question...

A first time home buyer needs help from all the real estate professionals in the transaction, mortgage lender, real estate agent, home inspectors, closing agent, homeowner's insurance agent, etc.

Specifically the mortgage lender needs to evaluate the buyer's financial situation and explain the possible financing options available to him or her.  Then guide the buyer through the process, hand holding if necessary, to get the loan approved.

A review of the process!

You need to be Pre Approved to compete in the Housing Market 

Financial help.

The loan.  That was it.

A wheel barrow full. Why go thru the process without a good loan officer?

Money of course.

You can't buy a house with dough-nuts.

So, what is your real question?
Red flags that make borrowing difficult?
Down-payment amount?
Down-payment assistance?
Free money?
Amount you can borrow?
Or maybe you have $500, 000 buried in the back yard. Bad news. You won't be able to buy a house with money from unverified sources unless you find a FSBO.

As a first time buyer, I suggest you find yourself a guide. or go to RocketMortage.com and see what happens when you plug in a few numbers.

Understanding the bottom ratio-- your total debt and how it is calculated.  Revolving versus installment, etc.

An introduction to the right lender and the right real estate agent.

many good responses.

    An appointment.

The lender will tell you whether or not you can qualify to purchase a home at a certain price with a certain loan.

If your buyer is paying cash no problems. If they need a loan they better find a good mortgage lender or they won't be making a purchase.

Someone who listens and knows the programs, not all mortgage people are equal in their abilities.

Someone who cares enough to get the whole truth from the Buyer and finds the perfect set of solutions

Mortgage? 

Hello friends! If you have time do me a favor and check out this recent BLOG I wrote about this topic. It might help answer your question. As always, I try and provide educational content that adds value!

Thank you.

https://www.faulknermortgage.com/blog/first-time-home-buyers-choosing-a-lender

Michael Faulkner - Branch Manager

A Division of American Pacific Mortgage Corporation NMLS #1850

NMLS #225942

EQUAL HOUSING OPPORTUNITY

AZ Corp BK 0906702

CA BRE (Individual/01215943)

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act

Lending in CA and AZ only  

© 2018 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity.  

Help them if their credit score is low.

To guide you through the lending process.

A lot more than you will think

prequalification..

Explanations as to the process and what they need to qualify for a mortgage.