First-Time Home Buying

First Time Home Buying Simplified Episode 4

By August 21, 2019March 16th, 2020No Comments
First time homebuyer

First Time Home Buying Simplified Episode 4

Episode 4

Hi everyone, I’m Scott DiGregorio, your mortgage guy. For this episode, I want to talk specifically to all the First Time Home Buyers out there.

Funnily enough, there are a lot of people that come into my office and say, “I’m a first-time home buyer!” And unfortunately, that doesn’t get you very far these days. Back in the day, when I first started my career, there were all sorts of government programs out there for first-time home-buyers and the truth is, there aren’t as many out there anymore.

It’s important to note that just because you’re a first-time homebuyer it doesn’t mean that you have better opportunities. And on the flip side, if you’re not a first-time homebuyer it doesn’t mean that you have worse opportunities.

While it’s true, I have some programs where I could do 3% down on a conventional loan program if you’re a first-time homebuyer. But the truth is, I could do a 3% down if you’re not a first-time homebuyer. You could do FHA whether you’re a first-time homebuyer or not.

When you start getting into the area of downpayment assistance there are some perks there for first-timers, but I don’t know where this misconception from that comes from. First-time homebuyers have some perks that people have even if they are not first-time homebuyers.

By the way, it would be remiss of me to not define the first time home buyer from a mortgage standpoint. If you have not owned a home in the last 36 months you are technically considered a first-time homebuyer. It doesn’t do much for you but that’s a checkbox I would check off on the application.

If you’re curious about what programs are out there for you and your situation, just reach out to me, I’m always here to help (239-910-6040.) My name is Scott DiGregorio. I’m your Mortgage Guy. Thanks for watching, I’ll talk to you soon. Take Care. 

Find out in 5 minutes if you qualify for an FHA loan!

    Great! What type of property are you purchasing? Single Family HomeCondominiumTownhomeMulti-Family Home
    Estimate your credit score. Excellent 740+Good 700-739Average 660-699Fair 600-659Poor <600
    Is this your first property purchase? YesNo
    What is your current property purchase situation? Singed a purchase agreementOffer pending / found propertyBuying in 2-6 monthsResearching options
    How will this property be used? Primary homeSecondary homeRental property
    What is your employment status? Not employedSelf employedMilitaryOther
    Bankruptcy, Short sale, or foreclosure in the last 3 years? BankruptcyShort saleForeclosureNone
    Can you show proof of income? YesNo
    Are you working with a real estate agent? YesNo

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