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1. Buying Your First Home?

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Buying your first home is both scary and exciting at the same time.  It gets incredibly scary and exciting the closer you come to the realization that you are in a position to start the home buying process.

The first, and most important question you will have is…..Where do I start?

This is a really good question.  And how you proceed from here will set the pace for the type of experience you will have throughout the transaction.

The biggest challenge you will soon discover is that there are a lot of moving pieces, a lot of paperwork, and a lot of people involved in the effort to get you into your first home.

As a first time homebuyer, you count heavily on your home buying team, which is made up of your Realtor and your lender.

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When your Realtor and your lender have different levels of competence, experience, and expertise, it’s difficult to know which information is accurate, and how it all fits into the grand scheme of things.

Get Educated. Be Empowered.

As a veteran of the mortgage and real estate industry since 1998, I’ve put together an insider’s perspective on the home buying process that I take all of my clients through, in one form or another, throughout the process.

By doing your research, familiarizing yourself with the bare basics, and surrounding yourself with a great team, you are now empowered.

Being empowered means that the “next step” is not a mystery to you, and “surprises” are reduced to unpredictable events, not incompetence or a lack of communication.

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I’ve compiled some of the most common first time homebuyer experiences, questions, and complications we encounter on a daily basis in this comprehensive, high level guide.

There is a ton of information available on the internet to help you answer specific questions about buying a home.  Putting it all together so that it flows through the entire home buying experience is another thing entirely.

Understanding the Process

Being able to know what coming around the corner is the most valuable weapon you will have against stress, or worse, fear of the unknown.  This guide was assembled to give you a road map as you go through the sometimes rocky process.

As you navigate each step, you will better understand the different aspects of the home buying process, and you will know one man’s opinion of how to be the beneficiary of opportunities available to the empowered consumer.

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While there are definitely details and nuances that may make your experience slightly different from the next person, this guide is designed to familiarize you enough with the process to eliminate or reduce surprises.

The ultimate benefit of becoming an empowered homebuyer is that you better manage your expectations, your stress is reduced, and surprises are minimized.

Begin Your Journey

There are 10 lessons in this series, with 3 Bonus articles.  You can always click on the Home Buyer Education link in the top navigation bar, and you will find all of the lessons in the sidebar to the right if you’re on a desktop or tablet.

If you are reading this on a mobile device and do not see the lessons to the right, you will find them in the navigation bar at the top of the page.

Find the Right Lender. Find the Right Loan. Get Help Now!

If you have any questions, need any help, or would like to speak to an expert at any time, feel free to leave a comment or question on any lesson, call the number on the top of the site, or click any of the options in the sidebar.

Congratulations, and GOOD LUCK on your exciting journey towards realizing the American Dream of owning your own home!

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About Your Expert

Scott Schang

A 20 year veteran of the Mortgage and Real Estate industry, I am passionate about educating and empowering consumers. I have been writing about consumer protection issues, and making sense of complicated real estate and mortgage topics on this website since 2007

Leave a Question or Comment About this Topic

  • Conrad says:

    Question, say your loan falls through and you came into possession of money could you buy the same house for cash.

    • Scott Schang says:

      There are no rules against buying a home for cash. If you’re offering the seller of the home the same amount of money, I cannot imagine they would care where the money came from. That is absolutely an option! I would also say that if you can qualify for your VA home loan benefit, you are far better off keeping that cash for emergencies or other investments than tying it up in the equity of a home. With interest rates as low as they are today, it makes much more sense to use leverage instead of cash.

      Cash is a great “plan B” though!

  • Conrad says:

    We saw a house and we are waiting on the underwriters. Feel free to still send me the information for that mortgage broker

  • Conrad says:

    I am a disabled veteran rated At a 100% rating . I am married and trying to use my VA loan for the first time with a credit score just under 600. How good is my chances in getting a loan?

    • Scott Schang says:

      Hi Conrad,

      First and foremost, THANK YOU for your Service! I am happy to say that your credit score would not be a factor in your qualifying for your VA home loan benefit. There are many lenders out there that have rules that do not follow VA guidelines. Your eligibility is going to be based on your family’s income, debts, and ability to show that you can make your mortgage payment.

      Please email me at scott@findmywayhome.com and I can introduce you to someone that I know and trust that is committed to following VA guidelines and will fight hard to get you into a home. Please also let me know what State you’re buying in so I can make sure the expert I introduce you to can help in your area.

      Hope this helps?

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