Zillow Advice: Buying Process - I am a first time home buyer and do not know where to begin can you help? http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Zillow Advice | Zillow Real Estate The best thing for you to ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ The best thing for you to do when considering such an important decision is to select a highly experienced and recommended mortgage broker and full time real estate agent. Together they will provide you with all the information you'll need, and with their support, you will have the tools you need to undertake this exciting step. Best of luck to you! Wed, 12 Oct 2011 22:15:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T22:15:00Z Great question!&nbsp; You ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Great question!&nbsp; You will/should be working up close and personal with two folks in this process--your lender and your real estate agent.&nbsp; Call at least three banks and ask them the questions you just posed here.&nbsp;Pick small, local banks with good customer service.&nbsp; &nbsp;When you find someone who calls you back promptly&nbsp;and answers your questions to your satisfaction, work with them.&nbsp; Once&nbsp;you find&nbsp;the loan officer&nbsp;you like, ask them for a good faith estimate.&nbsp; That will have all your up front expenses and costs to purchase&nbsp;a&nbsp;home based on your income.<br/><br/>Then interview 3 real estate agents and do the same thing.&nbsp; Tell them to explain how they will represent you and work for you.&nbsp; You want a team on your side representing your bests interests.&nbsp; Remember they work for you.&nbsp; Chose carefully and Good Luck. Wed, 12 Oct 2011 21:26:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T21:26:00Z I think your first step would ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ I think your first step would be the local lender at your bank or credit union.&nbsp; Pick their brain, ask a lot of questions.&nbsp; Wed, 12 Oct 2011 19:09:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T19:09:00Z Hi Jim,we here in Florida ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Hi Jim,<br/><br/>we here in Florida have different housing agencies on state and city level who help with Down Payment Assistance, as well USDA programs. You could google a lot of information or talk to different Brokers in your area.<br/><br/>Also the Seller could help you with closing cost and you need to include the request in your initial offer. There are many sources and you can talk to real estate professionals, lenders or mortgage brokers who can help you.<br/><br/>Good luck,<br/>Annett T. Block<br/>[website removed by Zillow moderator] Wed, 12 Oct 2011 18:33:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T18:33:00Z You might take a look at ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ You might take a look at the <a rel="nofollow" href="http://www.calhfa.ca.gov/homebuyer/">CA Housing Finance Agency</a> site. They have some good tips and programs that might be helpful for you. Wed, 12 Oct 2011 17:55:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T17:55:00Z Jim N DebThe best way to ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Jim N Deb<br/>The best way to start is to contact 3 local loan brokers in the area in which you plan to buy a home and ask the same questions.&nbsp; Ask If there are USDA homes in the area as well.&nbsp; There may be county or state or Federal funds available to you.&nbsp; They come and go.&nbsp; This changes all the time.<br/> Wed, 12 Oct 2011 17:45:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T17:45:00Z Research is key. You won't ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Research is key. You won't know what a good buy is unless you've done some research. Also getting prequalified is necessary. If u come across that dream house, you want to be able to jump on it. Lastly find an agent you feel comfortable with and trust to help guide you through the buying process. Good luck! Wed, 12 Oct 2011 14:44:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T14:44:00Z Hi Jim,I would have to agree ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Hi Jim,<br/>I would have to agree with SoCal, you do need to do research.&nbsp; Here in Stockton we have CalHafa where there is down payment assistance for first time buyers.&nbsp; There are only specific loan officers that are qualified to do thes loans, and you have to jump through some hoops, but it helps with down payment assistance.&nbsp; Now, you can also ask for downpayment assistance from the seller by asking in the offer. If the offer is accepted then the seller is willing to give you assistance.&nbsp; <br/>When you have decided that you have researched enough and are ready to talk to a lender make sure you interview at least 3 loan officers from three differen banks or mortgage brokers to see what they can offer you.&nbsp; If you are unsure which lenders you should talk to, contact a REALTOR who can direct you to a few that they have worked with and know will take care of their clients.&nbsp; Wed, 12 Oct 2011 04:11:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T04:11:00Z Thumbs up to Dan and SoCalEngr ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ Thumbs up to Dan and SoCalEngr for excellent answers.<br/><br/>Just because one can find ways to buy without putting a penny of one's own money into the pot doesn't mean it is a sensible thing to do.&nbsp;&nbsp; If you've not yet been able to save up down payment and closing costs, put together a plan.&nbsp;&nbsp;&nbsp; It is far easier to purchase a home initially than to keep a home through the joys of furnaces going out, roofs leaking etc.&nbsp;&nbsp; Set yourself up for success with saving up that down payment and closing costs.&nbsp; (I've written all my politicians with the recommendation of a minimum of 20% down for any type of loan.) <br/><br/> Wed, 12 Oct 2011 03:43:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T03:43:00Z I would talk to a local real ... http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ I would talk to a local real estate agent and ask them about the programs that your area has. For example in the county that my office is in there are some programs that will give the down payment to the buyer as long as they are planning to use the home as there primary residence and you don't have to pay it back unless you sell the home. Wed, 12 Oct 2011 03:36:00 GMT http://www.zillow.com/advice-thread/I-am-a-first-time-home-buyer-and-do-not-know-where-to-begin-can-you-help/418946/ 2011-10-12T03:36:00Z