Austin First-Time Home Buyers

Steps to Buying Your First Home

Austin First Time Home Buyers

After weighing the advantages and disadvantages of owning your own home instead of renting, you have finally decided to purchase your first home. Congratulations! Buying a first home is definitely an exciting step in one’s life, but the process can sometimes be difficult and overwhelming. Many fail to consider the winding road that leads you from your original decision to buy a home to actual home ownership. Although the process can seem daunting and unfamiliar, our team of Austin mortgage experts is here to help you every step of the way. Leaman Team Powered by New American Funding wants to help get you started on the path leading to your perfect, future home in the most friendly and efficient way possible.


  1. Step One: Get Prepared.

    Unfortunately, the first step toward purchasing a home is not rushing out and finding a house you can’t live without. Our team of Austin mortgage experts recommends preparation. In order to guarantee a smooth and successful home ownership process, it is extremely important to study. Take the time to collect information on topics related to the home buying process such as, what will be required of you from lenders, how the entire process will progress, and what sellers are looking for from potential buyers. While this step may not seem as exciting as rushing out and finding your dream home, it will help you become more comfortable and less apprehensive as you move forward.

    If you have any questions about requirements from lenders and sellers or about any step during the home ownership process, feel free to contact a mortgage professional at Leaman Team Powered by New American Funding by filling out a form on the left or calling (512) 765-4300 or (800) 294-4101.


  3. Step Two: Credit Check.

    While we are not quite at the find a home step in the process, we are getting closer. The next step any potential home owner should take is to check his/her credit score. A copy of your credit report can be obtained from one or all three major credit reporting companies including: Experian, Equifax, and Trans Union. If your past credit is not ideal, do not panic. Most lenders are concerned with the distinction between a person with a past bad credit experience and a person who is a bad credit risk. However, if you do see some negative entries on your credit report, do your best to clear those up. Good credit will allow you to keep your home ownership costs down, saving you a ton in the long run.


  5. Step Three: Get Pre-Approved.

    The next step towards owning your first home is to talk with a lender and get pre-approved for a mortgage loan. Until this step is completed, it really makes no sense to start home searching because you will not have a budget. When you are pre-approved for a home loan, that lender is agreeing to lend you the quoted amount. Getting pre-approved for a loan is a bit trickier than just pre-qualifying for a loan. To get pre-approved for a home loan, documentation proving your income, debts and assets must be provided to the lender. Pre-approval guarantees you a set loan amount that can be borrowed.


  7. Step Four: Find a Home.

    Once your financing is in order, begin the search for your dream home. Due to the vast amount of homes on the market, while this step seems like the most exciting, it can quickly become overwhelming. To help narrow down the search, determine what you want in your future home. What are you looking for in terms of location, size, and style? After narrowing down your search in those three areas, consider contacting a realtor. They will know the area better than anyone and can further guide you toward your perfect home.

    For additional information regarding First-Time Home buyers, feel free to contact our Austin mortgage specialist by filling out a form on the left or calling (512) 717-4299.