Minnesota First Time Home Buyers
Buying your first home is an exciting proposition for most Minnesotans. It’s exciting and a little frightening at the same time. For most individuals and families just starting out on the process of buying a house, their lack of experience means that they have many questions and concerns. Getting those questions answered correctly is the key to making a great deal and getting started with home ownership, a big part of the American Dream. Our REMAX Realty team loves working with first time home buyers and we’ve helped many families to buy great homes. Here are some things to consider:
- When Should You Buy? – How do you know if the time is right to buy your first home? The answer isn’t simple, but if you have stable employment, have saved money for a down payment, and have a good credit history and credit score, the time is probably now. Instead of paying rent every month, you could begin building equity in a home, making your housing dollar work for you, instead of just handing money to your landlord.
- How Much Should I Spend? – Choosing your first home should be based on your current income, with an eye on the future. Many young families make the mistake of buying more home than they can really afford. Then, when unexpected events occur, they can find themselves in financial difficulty. Making a realistic choice of the cost for a first home is important. Our experienced REMAX agents can help you assess your needs and choose a good price range for your particular situation. Right now, there are many excellent bargains in the housing market, so you may be in for a pleasant surprise.
- What About Financing? – You may already have a good relationship with a bank or other financial institution. If so, that’s a good place to start. Make an appointment with a mortgage expert at your bank and ask for a mortgage pre-qualification. They’ll help you determine how much you can borrow. We can also help you find a trusted, reliable mortgage lender who is interested in lending to first time home buyers.
- Are There Any Special Programs Available? – Absolutely. If you’re a military veteran, you probably qualify for a VA Guaranteed Home Loan. That can make financing your new home much easier. In addition, other government programs exist to assist first time home buyers in making a home purchase less expensive and simpler. These programs change, but our REMAX Realtors have up-to-date information on all these programs.
- Can I Get Assistance with My Down Payment? – Minnesota Housing offers down-payment assistance to first-time homebuyers who meet certain income and other qualifications. The CASA, HAF, and Home Help programs can provide assistance to qualified buyers with grants and low-cost, forgivable loans to cover down payments. Ask your REMAX Realtor about these programs.
- How Do I Find a Good Agent? – Not every real estate agent is interested in working with first time home buyers or has the patience needed to walk them through the complexities of buying a first home. You need an agent who enjoys helping new buyers. We have several experienced, professional agents who specialize in working with first time buyers and who have the detailed knowledge needed to find creative ways to help them successfully buy a great home.
- How Can I Learn More? – Our REMAX team offers free seminars and classes for first time home buyers. At these seminars, you’ll learn about all aspects of buying your first home and have the opportunity to ask questions and get the answers you need.
Our top REMAX agents and Realtors have extensive experience in helping first-time home buyers. We can help you search and locate the houses that match your budget, your designed location and your criteria. As agent members of Minnesota Northstar MLS, we have unlimited access to the Minnesota MLS database and will be happy to search the ideal home for you. At our web site, we have the house listings search tool that you can use at your convenience to browse homes that interest you. Our agents stand ready to arrange showings of MLS listed homes for you.
Helping Minnesotans Buy a First Home
Our top REMAX team always looks forward to working with individuals and families who are planning to buy their first home. Unlike some, we take great pleasure in helping people get started on home ownership, and we have friendly, experienced agents who specialize in this area and who especially enjoy working with new home buyers. It’s all part of our commitment to excellence in every aspect of real estate. If you’re thinking about jumping into the real estate market, contact us today. We’d love to meet you, learn about your home ownership dreams, and help you through the entire process.