Buying your first home can be a tough process and be confusing. Knowing the ins and outs of whats needed and what you have to do as a home buyer is vital to the process. Whether you’re in the process, thinking of beginning it, or in the middle you should know the answers of whats going on next. Here are some popular questions and their answers:

What Credit Score Do I Need To Buy A Home?

In recent years things have changed and lenders are a little more lenient on credit scores. I personally work with lender whom can get you into a home loan with as low as a 640 credit score (no active collections).

How Much Money Do I Need To Buy A Home? 

There is really no right answer to this question as its a case by case basis. Some loans require no money down on loans and some buyers put down 20% of the purchase price on the loan. It will all depend on which route you choose to go but most first time buyers typically go between no money down or 3.5% of the purchase price down.

How Long Do I Have To Be Employed To Buy A Home?

Most lenders like to see 2 years of consistent employment at the same job or same field.

What Documentation Do I Need To Buy A Home?

2 years tax returns, 2 years W2s, 60 days bank statements and paystubs

When Is The Best Time To Buy A Home?

Most will say that the best time to buy a home is the spring. Reason being is the weather is nicer and homes look better at that time. The issue with that is most buyers are thinking that which means you have a lot more competition in the market. The best time to buy real estate is when YOU are ready, regardless of time of year.

How Much Does It Cost To Use A Realtor?

You don’t pay a realtor when you buy a home. We are paid from the seller for bringing them a buyer that purchased their home.

Would I Qualify For A Home If I Have Student Loans?

Having student loans doesn’t disqualify you from owning a home. The monthly amount you pay will be factored into you debt to income ratio and that will determine how much home you can buy. If they are deferred, the lender will still likely project the amount.

What Do I Do If My Credit Is Bad?

Credit Repair is something some of our potential clients need and we have the resources to provide that. Please visit the credit repair assistance tab on our site and you will be connected with somebody to help you.

I hope these answers help you understand a little better whats need to buy your home and get yourself on the path.

Be sure to download our revised Ebook and get the complete guide.


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