If you’re one of the many who is contemplating their first home purchase, where should you turn for the best advice? There are plenty of websites out there lining up to dole-out the facts and tips, but we decided to make it a bit easier on you. Having worked with first-time homebuyers as long as we’ve been in business, we understand that you’re not only looking for your dream home – you’re looking for the journey towards it to be enjoyable. Here’s a list of resources you can use to help you along your journey – trusted resources that will continually give you the best possible information, time and time again.

Information on FHA loans: These loans are popular with many first-time homebuyers as they require lower credit scores and as little as a 3.5% downpayment. The HUD (Housing and Urban Development) website is consistently updated so you can trust the information you’re receiving is accurate.

Credit reports: Know the status of your credit before you start the mortgage process. You can go to a consolidated credit reporting site that will pull your report and score from all three bureaus (Equifax, Experian and TransUnion). Try AnnualCreditReport.com – here, you can request free copies from each of these three agencies.

Shop within your limits: Once you know the downpayment you’re able and willing to make along with the status of your credit, go through the mortgage preapproval process. This is different than prequalification, however, and more reliable. This will let you know, realistically, how much a lender will approve you to borrow and help set your guidelines for home prices. Stay in your limits and know that with the current market, great deals won’t last, but it’s still a buyer’s market and you have negotiating power.

The seasons have changed here in the San Juans and we’re due for a chilly one this weekend (and forecasts of snow!). As you head into your weekend, check out local events calendar for the latest and we hope to see you out and about town.

The Staff at San Juan Realty, Inc.