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Maeghan Duckett


Fast Facts for First Time Home Buyers

Who qualifies as a first-time home buyer?

If you’ve never purchased a home before, did you know you qualify as a first-time home buyer!?

You can also qualify if: 

  1. You are recently divorced and your previous home was bought jointly with your spouse. 
  2. You’ve owned a piece of property that didn’t meet city and state codes with repair costs being more than the cost of purchasing a new home. 

What do I need to know before buying a home in the US? 

  1. Buying a home typically requires a down payment between 0% – 20% of the home’s sales price. 
  2. Finding a REALTOR that will prioritize your needs is crucial. 
  3. Be prepared for other costs that may come up during your home buying process such as earnest money, inspection costs and appraisal fees. Check out our home buying 101 course for more info on those costs. 

What is the Best Mortgage for a First Time Home Buyer? 

There are several mortgage options available. Your lender will provide you with various options that best suit your needs based on your credit score, amount saved and desired loan amount. 

If you don’t have a lender, My team and I can connect you with some pretty awesome lenders.

How Long Does it Take to Buy a House?

Timing varies depending on the parties involved. The process can be between 30 – 90 days to longer depending on the house hunting, offer, and closing processes.

What’s the Difference between an Inspector and an Appraiser?

A home inspector typically checks the home for safety concerns while an appraiser works to determine an unbiased estimated value of the home. 

Don’t see any answers to your questions here? Contact us and let’s chat!

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