Tips for the First-Time Homebuyer

Get a Mortgage Pre-Approval

Your first call needs to be a mortgage banker rather than your realtor's office.  Eliminate any doubt a seller may have about your approval status with a pre-approval from CityWorth Mortgage.  An offer with a pre-approval is the next best thing to an all cash offer.

Hire a Great Realtor

You need to remember how important this purchase is going to be, which often means that you can't cut corners to save money. Find a great real estate agent by talking to your mortgage banker. We can recommend agents for you depending on your area and needs.

Remember the Closing Costs

If you don’t have money for closing costs, make sure you work with a Realtor that is experienced in getting sellers to pay them for you. Call CityWorth Mortgage and we will recommend a Realtor for you.

Also, CityWorth Mortgage offers a Closing Cost Eliminator to help reduce the money you need for these additional expenses.

Don’t Skip a Home Inspection

Many homebuyers, especially those in situations with multiple offers, are tempted to skip a home inspection in order to make their offer more appealing, but this decision could be a major mistake. If you don't have a professional look at the house and find the problems you may be missing, then you could find yourself owning a home that needs more work than you can afford.

Look at the Big Picture

First-time homebuyers have a reputation for being too picky about the little things and not seeing the big picture when touring homes. Remember certain elements of a home can be changed cheaply and easily, so focus more on the things you cannot change (like location, layout, and size).

First Time Homebuyer Programs

First-time homebuyers have several state-wide programs available to help them.  Not only programs to assist in saving for a down payment, but programs to help with deferred loans, or even cash towards a down payment. If you live in Virginia, check out VA first-time homebuyer for a list of some of the more widely-used programs, and some of the factors to qualify for these programs.

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