The housing market can be confusing, especially if you’re a first-time home buyer. With all the different steps to take, programs to browse, and information to know, it can be hard to guess where to start. That’s where the My Home Mortgage Team comes in! In this blog post, we’ll share five tips to help you navigate the current housing market in Maryland, Virginia, and Washington D.C. and make it less complex. We’re here for you throughout this process, so read on, then contact us to talk to one of our mortgage pros!
Consider Mortgage Prequalification
Getting pre-qualified for a mortgage is one of the best and most important first steps to take if you’re serious about buying a house. It gives you an idea of what kind of budget you can realistically work with and only takes a few minutes to complete. The My Home Mortgage Team can help you see if you pre-qualify now, so you can start shopping for your dream home.
Educate Yourself on the Market You’re Interested In
Maryland, Virginia, and Washington D.C. have different housing markets, so it’s important to do your research before you start shopping for a home. You’ll want to understand details like the current median home price, average days spent on the market, and what’s available in your budget. Doing so will help you know what to expect when it’s time to house hunt.
Learn About the Available Housing Programs
Many programs are available to first-time home buyers, but each state has different offerings. Some of the most common are Maryland down payment assistance, Virginia home buying assistance, and Washington D.C. home buying assistance programs, which the My Home Mortgage Team specializes in! We’ll help you determine what you’re eligible for.
Seek Mortgage Pre-Approval
If you are pre-qualified for a mortgage and ready to dive into the housing market, pre-approval is the next step. Pre-approval is more in-depth than pre-qualification, but it will give you conditional approval for a specific loan amount. At this point, you’ll know exactly how much home you can afford and what interest rate you qualify for.
Find a Reliable Real Estate Agent
Once you’re ready to start looking at houses, it’s time to hire a real estate agent. They should have extensive knowledge of the Maryland, Virginia, or Washington D.C. housing markets and be available to answer any questions you may have. If you don’t know where to begin, turn to the My Home Mortgage Team, and we’ll connect you with one of our reliable real estate partners.
By following our guidance, you’ll find that navigating the current housing market isn’t so bad! The My Home Mortgage Team is here for you every step of the way, so work with us to start your path to owning a home today!
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Testimonials
Patient & Helpful
Tammi was very patient and very helpful throughout the entire application process. Being a first-time home buyer I didn't know a lot of this which made me frustrated but I was able to get approved and now I am a homeowner thanks to Tammi!
— James C.
No Pressure or Stress!
Tammi Lewis made my home buying experience very easy. I felt no stress or pressure. Tammi was with me every step and made sure I understood everything with detailed talks. My credit score was low and Tammi advised me how to raise it. So that the Loan process would be approved with no problems. Any one know that wants to buy their first home I am recommending Tammi Lewis and First Home Mortgage.
— Charlie F.
Professional & Timely
Rob made sure my experience as a first time home buyer was smooth and painless. Very professional and got things done in a timely manner. Could not have asked for more!
— Samantha J.
Great Experience for a New Homeowner
Rob was at all times, willing to go over the numerous pages of information with me. I am a new homeowner and had many as this was my first time navigating the home-buying waters. He explained things to me in a way that I understood and got me all of my documents in a timely and efficient manner. I enjoyed working with him and would refer him to anyone who is looking.
— Erica F.