Buying a home is a very stressful and daunting task.Â The best way to overcome the first time buyer
jitters if by getting educated about the process.Â Â There
are tons of resources available for free from the National Association of
Realtors, HUD, Fannie Mae, and your favorite lender or Realtor.
Many people tell you incorrectly that the first step is
getting approved from a lender.Â Although
this sounds like good advice, how do you know which lender?Â Do they offer special programs for first time
homebuyers, do they offer any grant programs, do they deal with alternative
The advice of just going to a bank to get pre-approved is
well intentioned but as poor a choice as only walking onto a single car lot to
buy a car.Â Think about it, would the
local Ford dealer tell you about the special going on down the street at the
Chevy dealer?Â Would they tell you they
buy their used cars at the auto auction to mark up and sell to you?
If you walk into XYZ Bank, you will be dealing with
employees of that bank trained only to sell their products.Â Some big banks are told specifically not to
use other products if they have in house products.
Therefore, I suggest dealing with a local housing agency
that offers unbiased home ownership counseling.Â
For example, when I teach the real estate portion of these classes for
the Finally Home Program for HUD, I am not even allowed to promote myself as
Jim Paulson the Realtor nor can I promote the competitive benefits of using my
company (Progressive Realty Corporation).Â
I am supposed to talk in general terms so that other Realtors still feel
comfortable sending their clients to these classes.
Specifically in Boise, Idaho; there are some great programs
to consider like:
- Boise City Affordable Housing Program;
- Neighborhood Housing Services;
- Idaho Housing Â and Finance Association;
- Rural Economic Community Development
- Many banks also have niche programs
available for low to moderate income families!
your lender or Realtor if these types of programs exist in your
city/state.Â You might be very pleasantly
surprised! You have lots of choices in Realtors, lenders, inspectors, and title
companies that are there to help you.Â
Make sure that you team up with ones that are used to working with first
luck in your quest!