Deciding to buy your first home is one of the most exciting decisions you can make! It is also one of the largest financial investments you will ever make.
It is extremely important to be well educated on exactly what you are doing, and everything that goes into the home mortgage process before undertaking this investment.
There are a lot of moving parts to buying your first home.
The good news:
We have built the definitive home mortgage resource guide for you, giving you all the information you need right in one place!
This resource guide is a curated list of all the best resources, information, and learning opportunities for all parts of the mortgage process for first time home buyers.
To use this guide, simply click on the chapters below, or scroll through to see all of the resources.
We update this guide regularly, so be sure to subscribe to our newsletter to stay up to date!
You’ve been renting for a while and you think you are ready to pursue your first home. Take the guess work out of the decision and know exactly why buying or renting is the right decision!
» To Rent Or Buy? The Financial Issues
» How to Decide It’s Time to Buy a Home
» This flowchart could help you decide whether to buy or rent a home
Now that you know you are ready to buy, it’s time to know what you’re actually getting into. Use these resources to see exactly what your mortgage payments will look like and how they are broken down.
» How Mortgage Payments Work: The Facts & Resources You Need
» How do mortgage lenders calculate monthly payments?
» On a mortgage, what’s the difference between my principal and interest payment and my total monthly payment?
Once you know what goes into a mortgage payment, it’s time to decide what type of mortgage is best for you. Here are the most up-to-date resources available breaking down exactly what types of home mortgages are available.
» Types of Home Loans (short and sweet)
» The Different Types of Mortgage Loans in 2017, Explained
» Home Loan Types, Find The Right Loan For Your Needs
Ultimately, what type of home you buy comes down to how much you can afford. While you likely have an ideal budget in mind, there is no reason to guess. Use these great resources to calculate out exactly how much you can afford to pay for your new home.
» How much house can I afford? A Comprehensive Calculator.
Since this is the first time you are purchasing a home, there a ton of great programs that you are eligible for. Don’t miss out on an opportunity to participate in first time home buyer programs, grants, and other financial help!
» 9 grants and programs to help you buy your first home
» Home buyer programs by state | 2017
» Are You A First-Time Home Buyer? Be Aware Of These Mortgage Programs
» Resources for Individuals from the U.S. Department of Housing and Urban Development
At this point you may be feeling a bit overwhelmed at everything that goes into buying your first home. Fear not! We have assembled the best available resources to break down every single step of what you can expect from the first time you think about buying through moving into your new home!
» Making the Mortgage Process a Little Less Confusing
» The 10 Steps to Buying a House
» Your home loan toolkit: A step-by-step guide (PDF)
When it comes to taking out a home mortgage, your credit score will play a large role. It is important to know exactly what they are looking for, and how you can use this information to ensure you are getting the best deal for you. These great resources breakdown everything you need to know about how your credit score will impact your mortgage process.
» What information is included in a credit report?
» What exactly happens when a mortgage lender checks my credit?
» How Your Credit Score Affects Your Mortgage Rate
» How Much Does Your Credit Score Affect Your Interest Rate?
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