Dreaming of owning your first home? Tired of paying rent for a home or apartment that doesn't feel like yours? Take heart; changing from renter to homeowner may be easier than you think. I'm here to help.

Where do you start?

First of all, learn the financing basics. Get pre-approved and become a smart shopper. Contact me for a list of lenders in the Beaumont area.

When you purchase your first home, making monthly payments probably won't be a problem. After all, you're already paying rent to your landlord each month. It's coming up with the lump sum needed for a down-payment that may seem impossible. Fortunately, there are options to make buying your first home a reality.

Programs for first-time buyers. There are several local or federal government programs that help first time buyers get into the housing market. Contact me about these options.

Your lender. Your bank or credit union may help as well. Are you debt free? Do you own something free and clear? Your lender may lend you the down-payment by securing it against an asset similar to a car.

Why should I be pre-approved?

Exactly how much of a home can I buy?

By getting pre-approval before you make an offer, you will be certain of the amount of the loan you will qualify for.

What is credit scoring and how does it work?

Credit scoring is an evaluation system used by lenders to help them determine whether or not they should lend you money.  This system grades you based on 5 different factors, including your payment history, outstanding credit balances, credit history, the type of credit you have accumulated, and the number of inquiries on your credit record.  Points are awarded for each factor, with a high score being favorable.

What will my payments be?

The amount of your monthly payment depends on the specific loan program you choose.  Lenders can provide you with an easy-to-read spreadsheet that compares different loan programs so that you will feel comfortable about your monthly financial obligation before even making an offer on a home.

How will pre-approval benefit me when I make an offer?

Full credit approval gives you buying power.  It allows you to shop as a cash buyer; you can negotiate more aggressively and potentially save thousands of dollars.  The seller will take your offer more seriously because they will know you already have approval from a lender. 

Need financial solutions?

Credit or tax problems. Do you have problems with your credit rating or owe money in taxes? Buying your first home is still a possibility. Check with your lending institution about options, such as paying a higher down- payment.