Greensheet Media


Be Ready for the American Dream – Tips for First Time Home Buyers

Buying a home for the first time can be exciting and nerve wrecking. You are finally taking the next steps that are important to own a home for the very first time. You may even get discouraged once you start the home buying process, but have no fear. Here are a few steps that can help save you money and be ultimately ready to purchase your first home.


Know Your Credit

Know your credit score when you are getting ready to purchase your first home. Your credit score is one of the main factors that lenders look at when you are applying for a home loan. Qualifying means that you will need a credit score minimum of 580 or higher. Typically, lenders like to see at least a 640 credit score. The higher your credit score the lower your interest rate will be, and that will allow you to take advantage of some programs out there that will help you get into your first home faster.

Monitor your credit by using one of the many online free credit report tools to help prepare you for a home loan. Utilization of your credit is important so use no more than 30% of your credit when using credit cards and never miss a payment. Other important factors to monitor your credit report is your debt-to-income ratio. It may take time and money to get your credit report back in order but do not give up. Begin to repair your credit at least 6 months before you go home shopping.


Assets and Liabilities

It is important for First Time Homebuyers to know what is coming in and what is going out as far as your monthly cash flow is concerned. If you want to get a good idea of this, then monitor your spending over the next two months. When you do this, it will help you get a good perspective on how you spend your money month in month out. This is important because lenders want to see that you are not overwhelmed with liabilities.


Qualify Yourself

When it comes time to apply for a mortgage, lenders need to have certain documents in order to qualify you for the home loan. They will need to document your income and taxes. Typically, they will ask for your most recent paycheck stubs, the last two years of your income tax filings, along with your W-2s and the last two months of your bank statements. Have all these documents ready.

The next thing you want to do in these steps as a First Time Home Buyer is know how much you can afford. A mortgage calculator can help you with this. Calculate your debt-to-income ratio so you can be sure you know how much your monthly payment will be and how much you can put down as down payment. Talk with multiple lenders and be prepared.

Now get up and get ready to live the American Dream. It is your time and you will make the right decision. Just be sure to take as many tips as possible, do the research, so that you will end up with a great deal and a great home for you and your family for many years to come.


Don’t Do it Alone

Findit Real Estate is offering a seminar to walk anyone interested in purchasing a property through the entire process.  Their experienced team will explain everything from bringing your credit up to a place where you can get pre-qualified to secure a mortgage, the ins and outs of locking in the most viable property available, and how to ensure your mortgage stays intact so we can ensure a successful closing.  Don’t miss this FREE opportunity to learn everything you need to know about acquiring your property with our experienced team of real estate professionals.


When: Saturday, July 29 from 10:30 a.m. – 12:30 p.m.
Address: 609 N. Eldridge, Houston, Texas 77079

Lunch will be provided and we they look forward to seeing you there!

more info:


The Greensheet is Texas’ favorite weekly shopper, serving the Houston, and Dallas/Fort Worth areas. For more than 46 years, we have connected buyers and sellers across the state safely and effectively. The Greensheet brings you buyers—and exciting money-saving deals—daily.