First Time Home Buyer Articles

Buying Your First Home, The Survival Guide: Choosing a Home
Editor’s Note: This article is the third in Lender411’s Buying Your First Home, The Survival Guide trilogy. Skip to the first entry, Getting Pre-Approved or the second, Calculating Costs.. Part Three: Choosing a HouseOnce you have an accurate estimate of your...

Buying Your First Home, The Survival Guide: Calculating Costs
Editor's Note: This article is the second in Lender411's Buying Your First Home, The Survival Guide trilogy. Skip to the first entry, Getting Pre-Approved or the third, Choosing a House.. Part Two: Calculating CostsFollowing mortgage loan pre-approval, you will...

Buying Your First Home, The Survival Guide: Getting Pre-Approved
Editor’s Note: This article is the first in Lender411’s Buying Your First Home, The Survival Guide trilogy. Skip to the second entry, Calculating Costs or the third, Choosing a House.. If you grew up in America, it's possible you’ve spent time gazing at...

7 Sins of First Time Home Buyers
First time home buyers beware; purchasing a home is a serious and long term financial investment.. Knowing what dangerous mistakes to avoid can mean the difference between digging your own grave of debt and creating a secure financial future.. Read the following 7 Sins of First...

Tax Advice for First Time Home Buyers
Although things can seem a tad overwhelming during tax time, this is a great opportunity to learn more about the various tax write-offs that may ease the financial burden of owning a home.. Mortgage Interest Tax DeductionThe most significant tax deduction for most homeowners...

FHA Loans for First Time Home Buyers
FHA Loans are a popular choice with many first time buyers.  FHA loans remain easier to get and offer some advantages in comparison to conventional mortgages. As long as you do not have an existing FHA mortgage and you meet the following minimum requirements, you...

Loan Programs for First Time Buyers
To be eligible for one of the many First-Time Home Buyer programs, the buyer may not necessarily have to be purchasing their first home. It's possible to qualify as a first time buyer  if you have not owned a home in the past three years.. There are various state and...

First Time Home Buyer Down Payment
For many first time home buyers, down payments can be a significant obstacle to obtaining a mortgage loan, as most home loans require sizeable sums up-front. This article will let you know what options are available to every type of first-time home buyer.. Down Payment...

How to Stop Paying Rent
Housing is a precious commodity that we all need every day. It's your choice to rent or to own, yet buying a home for yourself usually beats buying one for your landlord. If you're planning to stick around, however, owning may prove to be more rewarding. Here are five good...

What Is Mortgage Escrow?
Mortgage escrow accounts let borrowers build up money for homeowners’ policy premiums and property taxes gradually.  Escrow accounts are suggested for first time home buyers because buyers will be able to avoid surprises such as missed payments. Lenders often...

Getting A Home: Your Guide To Common Questions
Be informed about the home buying process! It's is the most empowering thing you can do, and Lender411 is definitely the right place to start!. Is Buying a Home For You?Many people have worries and concerns about the purchase of a home. Owning a home isn't for everyone,...

8 Expenses to Expect When You Purchase Your Home
If you're a first time home buyer, you may not know what to expect when starting the home purchase process.  You may know that it's generally a better financial move to buy a home than rent one.  You may have decided you need additional space.  You may be...

Common Homeowners Association Questions, Answered
What is an HOA?HOA stands for Home Owner Association.  An HOA is an organization of people who own property that upholds the rules of that particular condominium, subdivision, or development.  These rules administered by the HOA will limit the changes you can do to...

Buying a Home for the First Time and Completely Totally Lost - Until Now
Use Lender411's simple guide to navigate the mortgage process. In this article, you'll find step by step instructions for getting a mortgage, as well as resources for more in-depth information. . 1. Create an affordable monthly budgetCreate a budget to see what...

First Time Home Buyer Loans
When searching for a first time home buyer loan, you may be confused and filled with doubt or intimidation.  Purchasing a home is a major financial decision, and it’s good that you’re not taking it lightly. . Finding Your New HomeOnce you...

How to Prepare For a Mortgage Like a Pro
Before you shop for a new home, prepare to qualify for a mortgage loan. Preparing will help eliminate confusion while ensuring that the process goes as smoothly as possible. . There are six factors reviewed during approval process (excluding the home appraisal):. 1....

Financial Advice for Recent College Graduates
. Whether you are one of the lucky graduates starting the summer with your first professional job or are moving home to live with the ‘rents while searching for that perfect job opportunity, it’s important to be realistic about your financial situation. ....

Understanding the VA Construction Loan Process
The U.S. Department of Veteran Affairs (VA) allows eligible military borrowers to acquire a VA mortgage loan to fund the purchase of both existing and new home constructions. Consider the following factors for VA Construction Loans and the process of constructing a...

7 Questions You Must Answer Before Getting a Mortgage
1. Why do I need a mortgage? This question may seem obvious.  "I need a mortgage so that I can purchase a home."  Fair enough.  But do you need to buy a home?  Even if your answer is yes, you can still go deeper.  . Do you...

5 Ways to Qualify for a Mortgage as a Young Adult
In our economic climate, home loans can be difficult to obtain for young adults. For recent college grads and other young adults looking to own a home, the mortgage approval and financing process can be complicated and confusing. . However, with some knowledge and some...

Getting Started With a VA Home Loan

6 Helpful Tips for Getting a Mortgage While Self-Employed
If you are self-employed and have excellent credit and a significant down payment you still may not qualify for a mortgage due to recent changes in industry regulations. . Most lenders consider the self-employed to be riskier than their W-2 wage earning counterparts...

Common Homeowners Association Questions, Answered
What is an HOA?HOA stands for Home Owner Association.  An HOA is an organization of people who own property that upholds the rules of that particular condominium, subdivision, or development.  These rules administered by the HOA will limit the changes you can do to...

Buying a Home for the First Time and Completely Totally Lost - Until Now
Use Lender411's simple guide to navigate the mortgage process. In this article, you'll find step by step instructions for getting a mortgage, as well as resources for more in-depth information. . 1. Create an affordable monthly budgetCreate a budget to see what...

First Time Home Buyers with Bad Credit
Before, it was easier to find lenders who would give home loans to first-time home buyers with damaged credit.  Credit scores were ignored when applying for an FHA home loan in the past.. Nowadays, however, most lenders won’t even consider a borrower unless their...

Mortgage Rates 1-13-14
What will mortgage interest rates do tomorrow? The mortgage market should resist change to interest rates, according to mortgage professionals voting on our daily poll.. Big questions this week surround the fate of bond prices and Fed tapering after Friday's...

Infographic: Benefits of Homeownership
Looking to buy a home?  There are many benefits you should know about. The statistics illustrate the implications of increased wealth, long term stability, quality environment and your children's future. .

Benefits of Homeownership