For first time homebuyers, financing will always be at the top of the list of important steps to take. Homebuyers can enjoy a myriad of options when it comes to financing their new home but it is important to choose the one that is right for your budget and for the market of your property.


Loans are the route most people go down but these can come in different forms; you could go after a conventional loan, a FHA loan, or a VA loan. Conventional loans are fixed-rate mortgages that are not insured or guaranteed by the federal government. Without a previous banking history, these can be hard to get, as loaners will check for qualifications such as down payment, credit score, and income. Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development, provides various mortgage loan programs that are easier to obtain, have lower upfront costs and looser credit requirements. Finally, the U.S. Department of Veterans Affairs does not make loans but guarantees mortgages for veterans and service people.

When requesting a loan you will need a series of documents ready such as documentation of your income, employment, two years of IRS filings if you are self-employed, bank accounts, 401(K) funds and other assets. You can also find some handy tools like a mortgage calculator or loan calculator from Bankrate.


To get our new homeowners in the best home for them at the best price possible and in a financial situation they will be able to sustain moving forward, we have partnered with certified lender Telli Cardarelle from Mortgage Equity Partners. Find more information under the Financing tab, and call us today to learn how you can become a first-time homeowner!