A first-time homebuyer is defined as a person with no current ownership interest in a principal residence during the three-year period preceding the purchase of the mortgaged property.
First-Time Homebuyer Loan Programs in MA
There are many tips that first-time home buyers should concentrate on, but some of the top ones include:
- Check the selling prices of comparable homes in your area. Websites such as Zillow and Homegain can give you a general idea of what you should expect to pay. You can also do a quick search of actual MLS listings in your area. Although we aren’t affiliated with any particular realtors, Drew Mortgage can recommend a top licensed real estate agent to help you with this process.
- See what you can afford. Drew Mortgage has many licensed mortgage loan officers who review numbers on a monthly and yearly basis for you.
- Find out what your total monthly housing cost would be, including taxes and homeowners insurance. To get an estimate of the maximum amount you may be eligible for, including taxes and insurance, speak with a Drew Mortgage loan officer.