Congrats! You’re Ready to Become a Homeowner!

This is an exciting time in your life. No matter if you’re planning on house-hunting this weekend or setting a long-term goal to homeownership, it’s never too early to do your research and learn more about the process.

Smooth Your Path to Homeownership!

Buying a home is more than just visiting Open Houses and imagining your life there. (Although that is the fun part!) The financial side of it can be quite complex but when you take the time to learn the common terms and prepare yourself, it can be a smooth ride to the day you are handed the keys to your new home.

Start by getting familiar with some of the most used words and terms in the mortgage industry.

  • Mortgage Loan
  • Pre-Qualified/Pre-Approved*
  • Interest Rate
  • Down Payment
  • PMI
  • Credit Score
  • Fixed or Variable Loan
  • Closing Date
  • Inspections
  • Appraisal

*Pre-approvals are given to clients who have met qualifying approval criteria, and specific loan requirements, at the time of applications. Results may vary

What Really Matters When You Want to Buy Your First Home.

There are a lot of factors to consider when you decide to take the leap into homeownership. Aside from the number of bedrooms, the size of the yard or the school district, getting your finances in order should be at the top of your list. Here are a few things you should have in place before applying for a home mortgage loan:

  • Know Your Credit Score
  • Know Your Monthly Income & Expenses
  • Save for a Down Payment and Learn How to Access Down Payment Assistance Programs
  • Be Realistic About What You Can Afford

A main focus when buying a home is securing a mortgage rate that is low interest and a low monthly payment that’s affordable.

First Time Home Buyers hugging


First Time Homebuyer Programs

The purpose of our First Time Home Buyer program is to provide specific assistance to first-time homebuyers. Buying your first home is an experience that should be remembered as a positive one, that is why the loan officers at Primary Residential Mortgage, Inc. (PRMI) go above and beyond to make sure your first home buying experience is an easy one.

PRMI will help you take advantage of federal, state and local government programs that are available to you when you are buying your first home. These federal programs are available to any legal United States Citizen/Resident looking to buy their first home.

First time home buyer programs provide assistance with down payment** and/or closing costs for your home. This assistance can come in the form of grants, loans, or even zero-interest loans*, and deferred payment loans. Our loan officers will help guide you through the process educating you every step of the way.

“Chris (Christopher Lynch) was extremely helpful throughout my entire home buying experience. He was always available at any time to answer my questions/concerns. Chris was great at explaining any details of the process and made my first home buying process so easy! Highly recommend!!” -Megaen, Uniontown, OH *SocialSurvey

*Closing costs and fees may still apply.
**First lien interest rates may be higher when using a DPA second.

The content in this blog has not been approved, reviewed, sponsored or endorsed by any department or government agency.

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