FIRST TIME HOME BUYER?
WE HAVE OPTIONS FOR THOSE JUST STARTING OUT
Are you a first time home buyer looking to purchase a home of your own?
We know mortgages. We can help!
Buying your first home can be daunting. After all, a house is one of the biggest purchases you will ever make. You have tons of questions. You may be so overwhelmed that you don’t even know what questions to ask.
DON’T WORRY! We are here to help you through the home buying process, step by step. We work with first time home buyers throughout Ohio, Indiana, Kentucky, and Florida.
We would be honored to help you achieve your dreams of homeownership.
First Time Home Buyer Loan Programs
There are many loan programs available for first time home buyers.
For example, FHA Home Loans offer competitive interest rates, lower down payments, and flexible qualifying standards. Another great option is a USDA Loan, which offers zero down payment mortgage loans to eligible home buyers in rural areas For our honored Veterans and Active-Duty Service Members, VA Loans provide zero to low down payment options. Some first-time homebuyers may find their best solution with a Conventional Loan.
At KTL Performance Mortgage, we are here to help you determine which loan solution is the best fit for you. We will work with you to determine:
- How much home you can afford
- Which Home Buyer Loan Options are right for your individual situation
- Your estimated monthly payment
How can KTL help?
We’re here to help you every step of the way. Our application process is designed to be relaxed and friendly. From start to finish, our mortgage specialists have the knowledge and the experience to help you navigate the process of buying your home.
We can help you realize your dream of homeownership. Overall, the KTL Performance Mortgage team has one single mission: To put you and your family under the roof of your dreams.
Let’s talk about your future dreams…together.
First time home buyer? Here are the most important considerations you need to make when starting the homebuying process:
KNOW YOUR CREDIT SCORE
A great way to get a head start on the mortgage process is to be familiar with your credit report and your FICO credit score. You can get a free copy of your credit report from AnnualCreditReport.com. While this free report will not give you your FICO score, it will allow you to review the contents of your credit report.
Check the report carefully and if you see any errors, ask for a dispute from the credit reporting agency within 30 days of receiving the report.
However, if you don’t know your credit score, we are here to help! One of the first steps of the mortgage process is a credit check. We will review your credit report with you in detail.
PREPARE YOUR DOCUMENTS
During the preapproval process, you will work closely with your loan officer, who will review documents related to your income and assets. In general, you will be required to provide your W2s for the last two years, tax returns, the past two months of bank statements, and 30 days’ worth of recent pay stubs.
Other documents may be required depending on your situation.
ESTABLISH YOUR BUDGET
As a first time home buyer, you’re probably wondering how much you can afford to spend on your new home. Only you can determine the monthly payment that you are comfortable with. However, you can use a Mortgage Calculator to see how the sales price of a home affects the monthly payment. Using a mortgage calculator, you can also determine the approximate price range of homes that will be in your budget.
Each loan program has limits on the percentage of your gross monthly income that can go toward housing costs. These percentages also vary depending on the lender. We will work with you to determine with loan program will work best to help you achieve your goals.
SAVE UP FOR THE DOWN PAYMENT (MAYBE!)
Many loan programs require a minimum down payment, although there are some options that do not. Some programs provide the option to use funds that have been gifted to you.
We will walk you through all of your options and discuss which loan program is the best fit for you. If a down payment is required, we will make sure you understand how much you need to save up.
A final message for first time home buyers
Please don’t let fear of rejection stop you from taking steps toward achieving your dreams!
Many of our clients were not approved the first time they applied. However, the KTL difference is that we don’t walk away from our clients!
We will let you know exactly why you weren’t approved and will let you know the exact steps that you need to take.
Walk with us, and we will get you on the path to homeownership.
-KTL Performance Mortgage
Knowledge. Trust. Love.