Screen Shot 2015-08-13 at 9.05.54 PMI wish I had this when I bought my first home.

I had no idea what I was doing. I literally had to trust everyone in the process to do me right. They did. It was awesome, but I don’t recommend that approach. It’s a little risky. And stressful.

There are so many things to consider when buying your first home. Do you need a real estate agent (I’ll go on the record and answer that with a firm “yes”)? How do you choose a neighborhood? How do you put in a fair and reasonable offer without paying too much? How do you get a mortgage? What type of mortgage should you get? Should you get a home inspection? How much money will you need once you own the home?

All great questions. All of which I had no idea how to answer the first time I bought a home.

But you, lucky reader, don’t have to be as ill-informed as I was. Nope. You can have those and many other questions answered by the new Home Buying 101 guide from the Quicken Loans Zing Blog. It’s the first in a series of guides for homeowners  that will help you make important decisions, when you need to make them.

Home Buying 101 is offered as a PDF that you can view, download and print, if so desired.

The beautifully-designed guide takes you through the entire process, from beginning to end, and includes all kinds of great info such as a first-time home buyer glossary, some quizzes to help test your knowledge, and even some common abbreviations used in the real estate industry.

The home buying season is just around the corner. As soon as our lovely nation thaws from the worst winter since the Ice Age (I’m looking out the window at snow piles that are taller than me), Americans will begin buying and selling homes like nobody’s business. Mortgage rates are still near historic lows and home values are on the rise across the country. It’s a perfect recipe for a great home buying season, and our guide will help you be prepared.

Check out our guide and let us know what you think. Did we miss something? Let us know and we’ll add it. We promise. If you’re ready to get the process started, apply online now! Happy home hunting!

 

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This Post Has 12 Comments

  1. Very informative! Thank you. Question re: PAL…. does the PAL need to come from the mortgage lender I intend to use when I’m ready to buy a home? Is this something I can get tough quicken loans? Also, will getting a PAL put a hard inquiry on my credit report? Thanks!

    1. Hi Lorena:

      Yes, the preapproval comes from the mortgage lender you intend to use. Yes, we do preapproval. You can get one through Rocket Mortgage online or call 888-728-4702 to speak with one of our Home Loan Experts. Hope this helps!

      Thanks,
      Kevin Graham

  2. I have a 600 credit score and am looking to get a place with my girlfriend for our first home. what should I do in order to make sure that I have everything that I need in order get into my first home?

    1. Hey Anthony:

      Very excited to hear you’re getting ready to buy your first home! The information required may be a little bit different depending on what one program you’re applying for, but in general, it helps to get together your income and asset information including W-2s, bank statements and tax returns. If you go through Rocket Mortgage, you can get a preapproval in minutes and we make gathering your information super simple. If you would prefer to talk to one of our Home Loan Experts, you can call (888) 728-4702.

      Thanks,
      Kevin Graham

    1. I’m going to recommend that you visit our QLCredit service where you can pull your credit report for free without affecting your score. Then you’ll be able to get personalized recommendations on how to bring it up. You need a minimum score of 580 for an FHA loan and conventional loans require 620.

  3. Can I, a non-resident, act as Co-Sign or Co-Borrower for my sister who is a citizen of the United States as a first time home buyer?

    1. Hi Mohini:

      You should be able to do that, but there may be some additional documentation you have to provide as a non-resident. I’m going to have someone reach out to you to go over the details.

      Thanks,
      Kevin Graham

    1. Hi Jim:

      You can finance a home where your son will reside under your name. It’s considered an investment property. I’m going to have someone reach out to you to go over the details and your options.

      Thanks,
      Kevin Graham

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