Okay, first-time buyers… it’s time to turn the dream into the dirt you can stand on. Your very own home. I’m sure you have questions. In fact, I’m sure your questions are like most first-time buyers. Which is why I’ve put together this down-and-dirty answer guide for the most common questions home buyers have.
1. What kind of credit score do I need to have?
Generally, 630 or above is what you’ll want to have. The better your score, the better the terms will be on your loan. Some lenders may give you wiggle room on this, but it all depends on the circumstances. A loan professional can help you navigate this as you go.
2. How much of a down payment is required?
There are loans which will let you in for as low as 3% - 5% of the value of the home, but I