05/22/2026
📌📌 THIS IS A FIRST TIME HOMEBUYERS MUST READ POST! 📌📌
🎯Your first home may be a starter home. Let’s face it today’s prices are not the same as 20 years ago, so please do not compare your journey to someone else’s. You have to find a house that’s within your budget! Looking at houses that are outside of your budget tends to lead to you setting unrealistic expectations. This is why getting a PreApproval is important as it will provide you with your buying potential. Most of the mortgage payment estimates on these home search sites are with a 20% down payment & the best interest rates which may not be applicable to your situation.
🎯 Preparation is key! You can not buy a house without having ANY funds. Even if you get down payment assistance and/or a loan without a down payment, there are still costs associated with buying a home. These expenses can include, inspection fees, appraisal costs, closing costs and/or earnest money deposit(EMD). Bottom line, having a good amount reserved to put down on your home and/or for funds to close can be extremely beneficial overall.
🎯 Your credit score & credit profile matters. Yes you may be able to purchase a home with a 580 Fico credit score but most down payment assistance programs require a 620 or higher. Also the interest rate you will get by having a lower credit score should be taken into consideration. This is another reason why obtaining a PreApproval is important as the lender can help you to explore any potential loan options.
🎯 Your first house may not have hardwood floors, granite countertops, desired location, 4 bedrooms AND be over 1500 square feet with a budget of staying under $200K as an example. It may also be an investment home which requires upgrades to get it to your desired standards. There may be some compromises needed based on your budget and/or location. However it still can be a good home for your family & upgrades can be made in your allowable timeframe.
Let’s carve out a plan just for you. Send me a message or give me a call. 803-747-4573 ❤️🩹
Your Credit to Keys Agent ✍🏾
Angela Bruce, The REALTOR Who Cares
