HOME Search
Buy a
Your Home
Finance  Your
Home Purchase
First Time
Bunny and Art

First Time Buyers

We've helped many first time buyers through the process - from our children and their friends to senior citizens purchasing their first home after renting for 40 - 50 years. We can help you also

Your very first step is to save enough cash to purchase the home outright. However, if you haven't saved quite enough, you'll need a mortgage. So you need to speak with a mortgage rep to get Pre-Qualified. This does two positive things for you:

You'll know exactly how much you can afford so you look for homes in the proper price range

You'll have a Pre-Qualification Letter from a financial institution that you can submit with an offer after you find the perfect home. Many sellers will not even negotiate an offer without seeing a Pre-Qualification letter.

When you speak with a mortgage rep, you'll be asked your social security # to pull a credit report. You'll also be asked about your income, debts and the cash you've saved or the First National Bank of Dad will give you in the form of a gift.

Then mortgage rep will then be able to tell you how much you can spend on a new home. You should receive your answer and the letter within hours, there is no charge for this service.

If you have lived in Monmouth County for the past 12 months or more, Monmouth County has a First Time Buyers Grant available at times for the amount of $10,000. This is in the form of a second mortgage, after owning the property for 5 years, the loan is forgive and you owe them nothing, however, if you sell within 5 years you'll need to pay them back. Income requirements apply - call for details. Some banks also have their own First Time Buyer Grants.

Once you have your letter, it's time to contact your Realtor. Call us at 732-598-7700