First Time Homebuyers

Purchasing your first home is both an exciting and stressful experience – for just about everyone. First-time home buyers have the added stress of not knowing the market and needing third-party support to make sure you’re getting the best deal.  This is why our representatives are available to you around the clock, ready to answer any first-time home buying-related question.

What Can I Afford As A First-Time Home Buyer?

This is probably the number one question in the back of your mind. As you know, there are a lot of factors that go into determining your mortgage payment and interest rates;

  • annual income
  • debt payments
  • down payments
  • additional costs like homeowners insurance

Which Loan Should I Get?

Though you have a lot of loan options, if you qualify for a VA loan, it can be a great opportunity for first-time home buyers. These loans are backed by government guarantee and assurance, and come with several benefits. The following are just a few reasons why VA Loans are the preferred options for active and retired service members:

  1. No Down Payment – Most homebuyers are asked to put down a 5 percent payment for their conventional loan today. If it’s a $200,000 loan, that’s $10,000 out of pocket, right from the get-go. For veterans, coming up with that kind of money is a challenge right out of service, which is why a VA Loan is a viable solution.
  2. Easier Requirements – VA Loans were made with veterans in mind. Veterans don’t have time to build up stellar credit in the military. VA Loans are, therefore, easier to qualify for and equipped with competitive interest rates that aren’t swayed by credit scores.
  3. Manageable Monthly Payments – Since VA Loans don’t require private mortgage insurance, veterans are left with more money in their pockets every month. Over the lifespan of the loan, first-time home buyers can likely save thousands of dollars.

Here at Hero Loan, we also proudly offer several financing options for you, including USDA loans, FHA loans, and conventional mortgages. 

The Pre-Approval Process

To secure your loan as a first-time home buyer,  you need to be pre-approved. A loan officer needs to assess your financial situation and determine what you can qualify for, followed by a submitted loan application to the lender for approval.

Real Estate Agent Selection

It is important to use a real estate agent that understands the complexities of the VA Loan Program, and that understands your specific needs as a service member. We are happy to provide a network of partnered agents who recognize what you will need from them and are happy to work with first-time home buyers.

Our Services

We provide a variety of services that are designed to make this process as manageable and convenient as possible, these services are listed in detail below – they include:

  • A more personalized service
  • We do the heavy lifting
  • You save time
  • You save money

VA Loan approval in 5 minutes*

1Apply in minutes*
2Talk to a loan officer
3Close in as little as 14 days
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