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i am 24 years and i am looking to purchase a home. i have no clue where to start?

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May 19 2010 - Wilson
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Best Answer
Hi Jahshad,

Thanks for your question. There are two important things you should do right off the bat. First, I would contact a local real estate agent to discuss the local market. They will be able to help you with your search. Secondly, I would contact a lender to get pre-approved for financing. The lender will be able to give you an idea of your price range. You will want to get a pre-approval letter from the lender so you can present it to the seller when you are ready to make an offer on a property.
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May 19 2010
Also ask your Realtor and Lender about MCC Tax Rebates and North Carolina Housing Finance Agency loans for Down Payment Assistance for First Time Home buyers. They offer HUGE tax savings for YEARS to come, but you must have an agent and lender who know about these programs. And NCHFA Zero Percent Interest Downpayment Assistance is Awesome!
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May 20 2010
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Please take some time to educate yourself before speaking to a sales "professional". 
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May 19 2010
Jas, this may help .... Happy funding, Rudi
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May 19 2010
Hi Jashad!

Sheri Moritz here :) and Thanks Chip for the recommendation!

I agree with everyone that the best thing to do is speak with a couple of lenders and Chip would be a great place to start.  He can explain your options and what type of down payment options you qualify for.  Once you have spoken with a lender you will have a better idea of how much you want to spend on a house based on the monthly payment you are comfortable with.  Once you have determined a price range it is time to find an agent that is knowledgeable and experienced in the area you are looking to buy a home.  I would be happy to meet and answer any questions that you have.  I enjoy working with 1st time buyers making sure their first home buying experience is a good financial decision and a home they will be happy in.  I have sold over 1500 homes throughout the Triangle so I can help guide you in the right direction to meet your home buying goals.  

Your best asset in the process is going to be a great lender and real estate broker to advise you.  Buying your first home is not a DIY project. Once you have a buyers agent they will be able to advise you and make recommendations about certain homes, what price to offer, negotiate inspection and manage the important aspects of the home buying process.  Feel free to contact me through Zillow and I will get you headed in the right direction and congrats on the decision to buy a house!
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May 19 2010
Interview Sheri Moritz as one of your realtors.

I agree with Randy.  Figure out how much you qualify for and how much purchasing a home will costs you out of pocket.  Interview at least 3 lenders. Interview at least 3 realtors. While speaking with a lender ask about FHA v/s USDA for first-time homebuyers.

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May 19 2010
First thing select a lender and talk to them.  Find out if you can buy and how much you can spend.  I would suggest that you select an agent tht youcan trust and talk to and let them direct you t your home.
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May 19 2010
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You should find a Realtor to work with. A good Realtor will guide you and show you the steps you need to go through in order to purchase a home. 
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May 19 2010
The best thing to do first is to talk to a local lender so you know how much you can afford.  After that, ask your friends/family/coworkers for referrals on a real estate agent.
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May 19 2010
 
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