First-Time Homebuyer Guide:

What You Need to Know Before You Start

Buying your first home is one of the most exciting milestones in life, but it can also feel overwhelming if you’re not sure where to start. That is why we created this first-time homebuyer guide. From saving for a down payment to understanding what happens on closing day, there’s a lot to learn. The good news? With the right preparation, you can walk into the process feeling confident and ready.

A couple standing near their new home's front door mat.

Step 1: Get Your Finances in Order

Before you even start looking at houses, take a good look at your finances.

• Credit Score: Lenders use this to decide if you qualify for a loan and what interest rate you’ll get.

• Down Payment: While 20% is the traditional rule, many first-time buyer programs allow as little as 3–5%.

• Budget: Don’t just think about the monthly mortgage; factor in taxes, insurance, HOA fees, and maintenance.

💡 Tip: Talk to a lender early. A pre-approval gives you a clear picture of what you can afford.

Step 2: Know What You Want (and What You Don’t)

It’s easy to fall in love with a house that looks beautiful but doesn’t fit your lifestyle. Make two lists:

• Must-Haves: Number of bedrooms, location, yard size, commute, etc.

• Nice-to-Haves: Features you’d love but don’t absolutely need (like a finished basement or walk-in closet).

Having this list will keep you focused and save time during showings.

Step 3: Learn the Buying Process

Here’s a simple breakdown of the journey:

1. Pre-Approval – Know your budget.

2. House Hunting – Tour homes and compare options.

3. Make an Offer – Negotiate price and terms.

4. Home Inspection & Appraisal – Protect your investment.

5. Closing Day – Sign paperwork, get your keys, celebrate! 🎉

Step 4: Explore First-Time Buyer Programs

Did you know there are grants and special loan programs for first-time buyers? Depending on your location and situation, you may qualify for:

• Lower down payments

• Reduced interest rates

• Assistance with closing costs

  
  

Step 5: Surround Yourself With the Right Team

Even if you’ve never bought before, you don’t have to figure it out alone. Having the right lender, realtor, and attorney on your side makes a huge difference. Think of them as your home-buying team helping you avoid mistakes and protecting your investment.

The Samantha Simmons Team

211 North Olive Street

Suite 103

Media, PA 19063

Tel. (267) 670-9886‬