{"id":1820,"date":"2021-03-18T18:44:20","date_gmt":"2021-03-18T18:44:20","guid":{"rendered":"https:\/\/baycoastmortgage.com\/?post_type=loans&#038;p=1820"},"modified":"2023-07-18T17:28:14","modified_gmt":"2023-07-18T17:28:14","slug":"first-time-home-buyers","status":"publish","type":"loans","link":"https:\/\/baycoastmortgage.com\/en\/loans\/other-loans\/first-time-home-buyers\/","title":{"rendered":"First-Time Home Buyers"},"content":{"rendered":"<div class=\"lazyblock-interior-hero-21DY4L wp-block-lazyblock-interior-hero\">\n<div class=\"section hero\">\n\t<div class=\"backing parallaxContainer\">\n\t\t<div class=\"backing\" style=\"background-image: url(https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1.jpg\" role=\"img\" aria-label=\"Hero Image\"><\/div>\n\t<\/div>\n\n\t<div class=\"heroContent\">\n\t\t<div class=\"plusPlus blue\" ><\/div>\n\n\t\t<div class=\"heroWrapper\">\n\t\t\t<div class=\"heroBlock bgWhite\">\n\n\t\t\t\t<div class=\"heroBlockHeadline\">\n\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"categories flex\" style=\"justify-content: flex-start;\">\n\t\t\t\t\t\t\t<div class=\"h6\">\n\n\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t    \t<a href=\"https:\/\/baycoastmortgage.com\/loans\">Loans<\/a>\n\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t<h1 class=\"blue\">First-Time Home Buyers<\/h1>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n<div class=\"spacer\"><\/div><\/div>\n\n<div class=\"lazyblock-interior-content-Z1eLIwx wp-block-lazyblock-interior-content\"><div class=\"spacer\"><\/div>\n\n<div class=\"section\">\n\t<div class=\"paddedWrapper\">\n\t\t<div class=\"wrapper flex gutenberg\" style=\"justify-content: center;\">\n\n\t\t\t\n\t\t\t<div class=\"smallWrapper gutenberg\">\n\n\t\t\t\t<div class=\"h3\">Start your Home Buying Journey with BayCoast Mortgage<\/div>\n\n\t\t\t  \t<hr style=\"margin-bottom: 5rem;\">\n\n\t\t\t\t<!-- interior content -->\n\t\t\t\t\n\n<p>As a First-Time Home Buyer, you may have questions about how mortgages work and where to start. BayCoast Mortgage is here to guide you through every step of the process.<\/p>\n\n\n\n<p>We offer several programs to help you achieve affordable first-time homeownership, including federally-backed loans with lower down payments \u2013 as little as 3%.<\/p>\n\n\n\n<div class=\"wp-block-stackable-button-group stk-block-button-group stk-block stk-dfce5ab\" data-block-id=\"dfce5ab\"><div class=\"stk-row stk-inner-blocks stk-block-content stk-button-group\">\n<div class=\"wp-block-stackable-button stk-block-button popmake-3510 stk-block stk-60570e6 popmake-3510\" data-block-id=\"60570e6\"><style>.stk-60570e6 .stk-button{padding-top:15px !important;padding-right:20px !important;padding-bottom:15px !important;padding-left:20px !important;background:var(--stk-global-color-93371,#aec046) !important}.stk-60570e6 .stk-button__inner-text{font-size:15px !important;color:var(--stk-global-color-23926,#18428f) !important;font-weight:600 !important;text-transform:uppercase !important}@media screen and (max-width:1023px){.stk-60570e6 .stk-button__inner-text{font-size:15px !important}}<\/style><a class=\"stk-link stk-button stk--hover-effect-darken\" href=\"\"><span class=\"has-text-color stk-button__inner-text\">Apply Now<\/span><\/a><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-0aa547e\" id=\"a-guide-for-first-time-home-buyers\" data-block-id=\"0aa547e\"><h3 class=\"stk-block-heading__text\"> Guide for First-Time Home Buyers<\/h3><\/div>\n\n\n\n<p>Taking the leap into homeownership is an important step in anyone&#8217;s life. The challenge of buying a home for the first time can seem so daunting that it&#8217;s tempting to either just go with the first house that falls in your price range or continue to rent. <\/p>\n\n\n\n<p>To help you demystify the process and get the most out of the purchase, BayCoast Mortgage will help you examine what you&#8217;ll need to consider before you buy, what you can expect from the buying process itself, and some tips to make life easier after you purchase your first home.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-04f4ee2\" id=\"span-style-color-var-stk-global-color-56200-63-b-1-dc-class-stk-highlight-before-you-buy-span\" data-block-id=\"04f4ee2\"><h4 class=\"stk-block-heading__text\"><span style=\"color: var(--stk-global-color-56200, #63b1dc);\" class=\"stk-highlight\">Before You Buy<\/span><\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-c46c9db\" id=\"strong-access-your-needs-strong\" data-block-id=\"c46c9db\"><h5 class=\"stk-block-heading__text\"><strong>Access your Needs<\/strong><\/h5><\/div>\n\n\n\n<p>The first thing you&#8217;ll need to determine is what your long-term goals are and how home ownership fits in with those plans. It could be that you&#8217;re simply looking to transform all those &#8220;wasted&#8221; rent payments into mortgage payments that actually give you something tangible. Think about your family and whether you have plans to marry or having children in the near future. Factor in your job and if it&#8217;s stable, whether you plan to stay long term or if you are itching to try something new.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-20fe356\" id=\"strong-which-purchases-makes-the-most-sense-for-me-strong\" data-block-id=\"20fe356\"><h5 class=\"stk-block-heading__text\"><strong>Which purchases makes the most sense for me?<\/strong><\/h5><\/div>\n\n\n\n<p>Whether you&#8217;re purchasing a traditional single-family home, townhouse, condo etc, each option has its pros and cons, depending on your homeownership goals, so you need to decide which type of property will help you reach those goals. Purchasing a home that fits both your needs and wants can factor into the decision making process. Your list should include basic desires like neighborhood and size, all the way down to smaller details like bathroom layout and a kitchen that comes equipped with trustworthy appliances.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-1a3effb\" id=\"strong-do-the-math-strong\" data-block-id=\"1a3effb\"><h5 class=\"stk-block-heading__text\"><strong>Do the Math<\/strong><\/h5><\/div>\n\n\n\n<p>A loan officer at BayCoast Mortgage will help you determine how much money you will need to borrow in order to purchase your home. Factors like how much other debt you have, your monthly income and how long you&#8217;ve been at your current job all contribute to your ability to qualify for a loan. Many people focus on the down payment when they think about buying a home. Yes, the down payment is usually a large chunk of money. But there are other upfront costs you need to think about &#8211; taxes, property insurance and closing costs for example. Closing costs encompass many fees including origination, underwriting, appraisal and title insurance. It can all add up so it&#8217;s good to know it ahead of time.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-0702f6a\" id=\"strong-be-prepared-strong\" data-block-id=\"0702f6a\"><h5 class=\"stk-block-heading__text\"><strong>Be Prepared<\/strong><\/h5><\/div>\n\n\n\n<p>Once you&#8217;re ready to move forward with BayCoast Mortgage, you&#8217;ll want to have all your documents ready to make the process go smoothly. In most cases, you will need government issued ID, a credit report, a verification form from your employer, W2 forms, federal tax returns and bank and asset statements. Some of these documents would also have helped you to figure out how financially ready you are to buy a home.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-636076c\" id=\"span-style-color-var-stk-global-color-56200-63-b-1-dc-class-stk-highlight-the-buying-process-span\" data-block-id=\"636076c\"><h4 class=\"stk-block-heading__text\"><span style=\"color: var(--stk-global-color-56200, #63b1dc);\" class=\"stk-highlight\">The Buying Process<\/span><\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-bdceb2d\" id=\"strong-finding-a-home-strong\" data-block-id=\"bdceb2d\"><h5 class=\"stk-block-heading__text\"><strong>Finding a Home<\/strong><\/h5><\/div>\n\n\n\n<p>Make sure to take advantage of all the available options for finding homes on the market, including using your real estate agent, searching for listings online and driving around the neighborhoods that interest you. Real-estate agents can provide you with a vast amount of information and guidance about the entire process. Remember to tell the agent that you are a first-time homebuyer.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-ca22fde\" id=\"strong-finance-options-strong\" data-block-id=\"ca22fde\"><h5 class=\"stk-block-heading__text\"><strong>Finance Options<\/strong><\/h5><\/div>\n\n\n\n<p>First-time homebuyers have a wide variety of options with BayCoast Mortgage to help them get in a home, including federally-backed loans for homebuyers who don&#8217;t have the standard 20% minimum down payment. Your mortgage interest rate will have a major impact on the total price you pay for your home so consider all options when choosing the program that best fits your needs.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-10dc5bd\" id=\"strong-make-an-offer-strong\" data-block-id=\"10dc5bd\"><h5 class=\"stk-block-heading__text\"><strong>Make an Offer<\/strong><\/h5><\/div>\n\n\n\n<p>Your real estate agent will help you decide how much money you want to offer for the house along with any conditions you want to ask for. Your agent will then present the offer to the seller&#8217;s agent; the seller will either accept your offer or issue a counter-offer. When you reach an agreement, you&#8217;ll make a good-faith deposit and the process then transitions into escrow.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-922b829\" id=\"strong-home-inspections-strong\" data-block-id=\"922b829\"><h5 class=\"stk-block-heading__text\"><strong>Home Inspections<\/strong><\/h5><\/div>\n\n\n\n<p>A trained professional will inspect the property for the quality, safety and overall condition of your potential new home. If the home inspection reveals serious defects that the seller did not disclose, you&#8217;ll generally be able to rescind your offer and get the deposit back. Negotiating to have the seller make the repairs or discount the selling price are other options if you find yourself in the situation.<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-80c0b1a\" id=\"strong-closing-strong\" data-block-id=\"80c0b1a\"><h5 class=\"stk-block-heading__text\"><strong>Closing<\/strong><\/h5><\/div>\n\n\n\n<p>If the inspection didn&#8217;t reveal and significant problems, you should be ready to close. Closing involves signing a significant amount of paperwork in a very short time period. In the final stages of your purchase additional costs may include having the home appraised, doing a title search, obtaining private mortgage insurance or a piggyback loan if your down payment is less that 20%.<\/p>\n\n\n\n<p>Remember that the more you educate yourself about the process beforehand, the less stressful it will be and the more likely you will be to get the house you want for a price you can afford. Our BayCoast Mortgage experts can help guide you as you choose the program that suits your needs.\u00a0 Contact us to learn more!<\/p>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-7b46ffc\" id=\"youre-not-just-a-loan\" data-block-id=\"7b46ffc\"><h3 class=\"stk-block-heading__text\">You\u2019re Not Just a Loan<\/h3><\/div>\n\n\n\n<p>BayCoast Mortgage offers a variety of options to help finance your fist home, including federally-backed loans with lower down payments \u2013 as little as 3% down!&nbsp;<\/p>\n\n\n\n<p>Our BayCoast Mortgage experts can help guide you as you choose the program that suits your needs.\u00a0 <a href=\"https:\/\/baycoastmortgage.com\/en\/about-us\/contact-us\/\">Contact us<\/a> to learn more!<\/p>\n\n\n\n<div class=\"wp-block-stackable-button-group stk-block-button-group stk-block stk-6658f3d\" data-block-id=\"6658f3d\"><div class=\"stk-row stk-inner-blocks stk-block-content stk-button-group\">\n<div class=\"wp-block-stackable-button stk-block-button popmake-3510 stk-block stk-9394a44 popmake-3510\" data-block-id=\"9394a44\"><style>.stk-9394a44 .stk-button{padding-top:15px !important;padding-right:20px !important;padding-bottom:15px !important;padding-left:20px !important;background:var(--stk-global-color-93371,#aec046) !important}.stk-9394a44 .stk-button__inner-text{font-size:15px !important;color:var(--stk-global-color-23926,#18428f) !important;font-weight:600 !important;text-transform:uppercase !important}@media screen and (max-width:1023px){.stk-9394a44 .stk-button__inner-text{font-size:15px !important}}<\/style><a class=\"stk-link stk-button stk--hover-effect-darken\" href=\"\"><span class=\"has-text-color stk-button__inner-text\">Apply Now<\/span><\/a><\/div>\n<\/div><\/div>\n\n\n\t\t\t<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<\/div>","protected":false},"featured_media":5093,"template":"","class_list":["post-1820","loans","type-loans","status-publish","has-post-thumbnail","hentry","loan_type-other-loans"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1.jpg",1920,800,false],"thumbnail":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1-150x150.jpg",150,150,true],"medium":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1-300x125.jpg",300,125,true],"medium_large":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1-768x320.jpg",768,320,true],"large":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1-1024x427.jpg",1024,427,true],"1536x1536":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1-1536x640.jpg",1536,640,true],"2048x2048":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1.jpg",1920,800,false],"gform-image-choice-sm":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1.jpg",300,125,false],"gform-image-choice-md":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1.jpg",400,167,false],"gform-image-choice-lg":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2021\/03\/BCM-First-Time-Homebuyers-1920-\u00d7-800-px-1.jpg",600,250,false]},"post_excerpt_stackable_v2":"<p>Loans First-Time Home Buyers Start your Home Buying Journey with BayCoast Mortgage As a First-Time Home Buyer, you may have questions about how mortgages work and where to start. BayCoast Mortgage is here to guide you through every step of the process. We offer several programs to help you achieve affordable first-time homeownership, including federally-backed loans with lower down payments \u2013 as little as 3%. Apply Now Guide for First-Time Home Buyers Taking the leap into homeownership is an important step in anyone&#8217;s life. The challenge of buying a home for the first time can seem so daunting that it&#8217;s&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"","url":""},"comments_num_v2":"0 comments","publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/loans\/1820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/loans"}],"about":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/types\/loans"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/media\/5093"}],"wp:attachment":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/media?parent=1820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}