The answer to the question, “Who is a first-time home buyer?” may seem fairly self-explanatory, but depending on your situation there can be a little more to it than simply someone who has never owned a home before. While the majority of first-time home buyers are individuals or families who are just starting out, in many states you can also qualify for first-time home buyer loans if you haven’t owned a principal residence in the past three years, or if you have only owned residences that were not affixed to a foundation, such as a trailer home. Single parents who previously owned a home with a former spouse can also sometimes qualify, as can a couple in which one spouse has previously owned a home but the other has not.
Ultimately, who qualifies for first-time home buyer loans in Kansas City may depend on a variety of factors, so if you think you might be eligible or simply aren’t sure, your best bet is to talk to a low-interest mortgage lender in Kansas City to see what loan options are available to you.
First-time home buyer loans in Kansas City may have better rates or other built-in incentives to help new home buyers, but it’s still important to come to the loan process as prepared as possible and to explore the different options that are available to you. That includes having as much money in savings as you can before you begin the loan process, building up good credit, and knowing how much house you can afford. It also means finding good people who can help you to navigate the home buying process, including real estate agents, appraisers, and low-interest mortgage lenders in Kansas City.
While all of this can sound a little daunting to someone in the market for their first home, the benefits of home ownership far outweigh the difficulties that come with buying your first house, especially with the help of first-time home buyer loans from a quick-closing mortgage lender in Kansas City. Once your loan is approved and you’ve closed on the house of your dreams, not only do you have a roof over your head and a home that you can call your own, but you also start building equity in the house, enjoying tax benefits, and even building your credit score. All of this is in addition to avoiding the hassles that come with renting, including unpredictable increases in monthly rent and leases that may not renew as expected.
Fortunately, buying your first home doesn’t have to be as daunting as it seems. As your quick-closing mortgage lender in Kansas City, First Fidelis has handled hundreds of home mortgages over the years, so while this may be your first time buying a house, it isn’t our first time helping new home buyers to purchase the house of their dreams. We’ll walk you through the process in a way that makes you feel comfortable, while also helping to ensure that you close as quickly as possible so that you can put the home buying process behind you and get on to the much more important business of enjoying your new home.
To learn more about First-Time Home Buyer Loans in Kansas City and how to secure a quick close on the house that you’re looking for, contact First Fidelis today!