Buying your first home should be an exciting and rewarding time. Unfortunately, however, some first time homeowners would confess that the term 'stressful' would be a more appropriate description for such an experience. Despite the rumors, however, there is no need to be intimidated as a first time buyer if you take the initiative to get prepared for the process beforehand.
Contact three separate mortgage companies. The point of contacting multiple mortgage sources is being able to discover all of your available financing opportunities. Shop around for different rates and different options. Some banks offer VA or FHA financing for example, while others do not. Some banks offer mortgages for first time buyers like RI Housing. You wouldn't purchase smaller items, such as a laptop, without doing your research, would you? Your future home should be no different. Don't settle for the first option you're offered.
The information you need to prepare yourself for the buying process is out there already! Some mortgage brokers or real estate attorneys offer educational seminars for first time buyers. Search for a seminar in your community! Don't settle. Realize what some home-seekers have overlooked or misunderstood in the past, there's no cost for you, as a buyer, to have a buyer's agent. Using a buyer's agent will keep your best interests in mind and will benefit you in the long run. Interview a few different real estate agents in order to find someone you are comfortable with. Most real estate agents, including myself, would be happy to sit down and simply have a conversation with you! I have worked with thousands of buyers and sellers over the years. So let's work together to make this process a great one. Experience matters!