Getting a first and initial time domestic buyer might be perplexing; not knowing the direction to go, which have many questions regarding the process, and you can choosing their eligibility shall be challenging. The near future Lenders cluster, in your town possessed and manage from inside the Jacksonville Coastline, will be here to help you from process! Why don’t we see around three biggest mistakes very first-date home buyers build and how to avoid them.

A few weeks later, you close, otherwise undertake, the loan and now have the latest secrets to the house

Just like the a first time family customer, you may not has a lot of cash secured to own the new downpayment and you will settlement costs needed to personal on the home. But never make the mistake of so long as you have to reduce homeownership when you are rescuing getting a large deposit.

How to avoid So it Error: Ask one of our professional lenders regarding the earliest-go out home customer solutions to check out applications on your condition. You could potentially qualify for one protected of the Institution off Experts Products that doesn’t want an advance payment. Federal Housing Government funds provides the absolute minimum down payment off step three.5%, and several old-fashioned financing applications accommodate down payments as the reduced once the 3%!