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Buying a home for the first time is both exciting and scary. At BrightPath, we’re here to help take out as much of the scary bits as possible. Here’s what you need to know about buying a home for the first time.

First Time Home Buyer Loan

BrightPath happily offers a first time home buyer loan program for Georgia residents. These programs typically make first time home buying affordable due to their down payments ranging from 0-5%of the cost of the home, instead of the standard 20% you might see for other more conventional loans. Most of the programs also include a form of mortgage insurance. Check out the advantages of a first time home buyer loan.

A Guide to Buying Your First Home

If you’re buying your first home, you likely have a lot of question. BrightPath has the answers. Check out our guide to buying your first home that walks you through all of the following steps:

  • Preparing to Buy: Is home ownership right for you? Consider factors such as job stability and budget. Don’t forget to include property taxes and home improvements.
  • Researching Mortgage Options: Mortgages can be as short as 15 years and as long as 30 years. They also offer fixed or variable rates. Learn about which mortgage option is best for you.
  • Securing Pre-Approval Status: Getting pre-approved lets sellers know you’re serious and ready to buy, and lets you know exactly how much house you can afford.
  • Choosing a Real Estate Agent: Working with someone who understands your wants and needs in a home is crucial to finding the perfect place for you.
  • Finding the Right Home: The right home for you will depend on a lot of factors. Once you find it, you’ll know it’s the right one.
  • Putting in an Offer: When you find the right home, putting in an offer is exciting and nerve-wracking. An experienced real estate agent will help you put in a fair offer without overdoing your budget.
  • Getting Ready to Close: Once your offer is accepted, but before you close on the home, you’ll need to do an inspection to make sure the house is up to code and safe for living in.
  • Closing on Your Home: Closing on a home means you finally take ownership by signing the papers and handing over the check. This is likely to be one of the biggest days of your life and worth celebrating.
  • Staying on Top of Your Mortgage: It’s important to keep up with mortgage payments and to make sure you’re setting aside money for home improvements. Someday, you may even wish to refinance your mortgage.

Home Loans for Real Estate Investors

Investing in real estate can be a great way to diversify your portfolio or just earn passive income as a landlord. If you’re ready to break in to the world of real estate investing you can count on BrightPath’s mortgage lenders to get you started. We provide the funding you need to get your real estate investment dreams off the ground.

 

Whether you’re buying a home for the first time or investing in a real estate opportunity, BrightPath mortgage lenders can help you turn your home ownership dreams into reality. Call us today at 888-222-6003 to learn more about our loan options and find the one that fits your situation best.

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