Congratulations on your decision to purchase your first home! At Moreira Team, we understand that the process can be overwhelming, but we are here to guide you every step of the way. If you’re not sure what to expect, don’t worry, that’s why we’re here. We will help you determine what you can afford and explain the process in a clear transparent way.
Loans tailored specifically to first-time homebuyers
Our personalized approach makes us the ideal lender for first time homebuyers. We offer a variety of loans tailored specifically to your needs, including FHA, VA, USDA, and Conventional loans. One of our exclusive programs is the Approval Guarantee Program, which allows you to have a fully underwritten mortgage approval before you even start looking for your dream home. This gives you an advantage over other potential buyers who may only be pre-qualified or pre-approved. With this program, you can stand out from other buyers and seller’s absolutely love it.
What type of loan are you looking for?
Home Purchase
Home Refinance
- No Credit Checks
- Instant Rates
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Upfront Approval Guarantee
HomeReady & Home Possible
FHA Loans
USDA Loans
VA Loans
When you have an Approval Guarantee it’s like a secret weapon for your purchasing power. The seller has a guarantee that you are fully approved to purchase, not just pre-approved, and you can choose to waive the financing contingency! Learn more about the Upfront Approval Guarantee
If you’re a first time buyer ready to buy a home but don’t have a lot saved for a down payment, the Fannie Mae HomeReady® and Freddie Mac Home Possible® mortgages are a great option. Learn More about HomeReady and Home Possible Loans
An FHA loan is a good choice for first time homebuyers with less than exceptional credit. It also may have a lower down payment options than a conventional mortgage for qualified borrowers. Learn more about our FHA Loans
USDA loans are a great options for first time home buyers looking for a government-backed mortgage for more rural properties in eligible areas of the United States. Learn more about USDA mortgage loans.
If you’re a veteran looking to get into your first home, then there are programs available to help you do just that. Learn more about VA Loans for first time home buyers
Purchase Affordability Calculator
How much house can you afford?
To determine what you can afford, we recommend using our Affordability Calculator. This tool will help you evaluate your unique financial situation and understand what size loan and monthly payment will work best for you. Simply input your annual income, assets, and monthly payment obligations, such as car payments and student loans, and experiment with different scenarios to see how they impact your monthly payments.
Why use Moreira Team for your first home loan?
At Moreira Team, we have been helping first-time homebuyers qualify for home loans for years. You’ll work with a knowledgeable mortgage advisor who will assist you from start to finish. We are here to make the process as simple as possible, so you’ll feel right at home long before you move in.
Work with a real estate agent.
Working with a real estate agent can also be beneficial as they can save you time and money. They can send you listings that fit your criteria and may have access to information about new listings that aren’t yet on the market. Additionally, they can help you negotiate the offer price and provide guidance throughout the home buying process.
Save for a down payment.
Saving for a down payment is important and we encourage you to start saving as soon as possible. While putting
20% down is traditional, there are FHA programs and Conventional programs that allow as little as 3.0% -3.5% down. However, it’s important to consider that a lower down payment may result in higher run.
Check and monitor your credit.
Your credit is a key factor in getting approved for a mortgage, so it’s important to check and monitor your credit. Dispute any errors and look for opportunities to improve your credit score by paying off outstanding debts.
Find the right house.
When searching for a home, make sure to consider factors beyond the house itself. Look at local crime statistics and map the nearest amenities such as hospitals, pharmacies, and grocery stores. Driving by the house at different times can also help you assess traffic and noise levels.
Negotiate your offer.
Remember, as a first-time homebuyer, you have the opportunity to negotiate the offer price. Don’t miss this opportunity! A real estate agent can be helpful in providing comparable sales and guiding you in the negotiation process.
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