1. Find A Realtor
When you’re buying a home, working with a Realtor is paramount; there really isn’t any risk, loss or cost, as the person selling their house typically pays the realtors commissions. There many, many Realtors here on the Big Island- make sure you choose one that you are comfortable sharing your dreams with. You want to be able to voice your issues and concerns without hesitation- choosing a Realtor that looks out for your best interests is the first big step towards getting into a house you will love. Click here to contact James T. Morrison R(S)
2. Find A Lender
You’ll also need to find a lender that you’re comfortable sharing your situation with. You need someone that will guide you through the process and let you know exactly what you will need to do, step by step. You’ll also want to make sure that your lender is speaking to you in a way you understand- not in mathematical code or lender lingo. The process of financing a home can be confusing and you don’t want to feel like you’ve been left in the dark at any point. Click here to contact a Lender
3. Learn about different lending Programs
There are many different options for first time home buyers that may help with down payment issues or credit problems. There is only one way to see what programs you qualify for; that's talk to a Realtor and a Lender! You may be surprised by what you can qualify for. Explaining your situation to your Lender is critical; they will seek out the best options for you based on your situation.
4. Monitor Credit
If you’re going to be buying a home in the next few years, you’ll want to restrain from making in any incredible credit purchases… NO NEW TRUCKS! Hold off on the lift and rims too- you want your credit balance to be in your favor when you apply for your loan. Ask your lender what you can do to get a mortgage; listen closely and follow their directions. They’re here to help, and if you do as they say you’ll be well on your way to owning your own home.
5. Owner Financing
Don’t forget about owner financing! Where there’s a will, there’s a way! Even if a listing doesn’t say that it will accept owner financing doesn’t mean that the seller won’t accept owner financing as a contingency in the offer. It never hurts to ask! Just remember, you should have a sizable down payment if you’re expecting someone to carry the cost of their home for you. Make sure you have a licensed Realtor prepare all of your offers and look over any contracts that a seller may be trying to get you to sign; you’re going to want to make sure that its in your best interest.