GREAT! that you are taking step forward to become a home buyer. The very first thing is to get pre-approved for a home loan. Next find a trusted Realtor in your area. If you need help finding a Realtor, please email me at vcopeland@bellsouth.net. Next, check to see if you can get any grant money for down payment and closing cost. Most states have programs that will help first time buyer, your Realtor should be able to forward this information to you. Last find the prefect home, close, move in and get your $8000 tax credit/rebate.

Good Afternoon!

Congratulations you are choosing a great time to purchase a home...rates are low, there is a $8,000 credit for first time homebuyers and homes are ON Sale! Your first point of business should be choosing a Realtor. There are a few key items to look for...how experienced is the Realtor, are they a Full Time Realtor (you don't want their time to be split between Real Estate and another job, are they available during the day, evenings and weekends to show you homes, are they technically inclined (immediately get emails, can receive and send text messages) and in your case will they take the time to guide you through every step of the process to make you comfortable. Once you have chosen a Realtor they can guide you to a mortgage lender who will take great care of you!

I work with many first time buyers and most of your questions will be answered prior to you asking as I want all of my clients to be fully informed. Once you choose a home I prepare a great checklist for you to help you along the way and I oversee every aspect of the sale. You will always know I am working for you and your best interest!

I truly hope to hear from you soon. Always feel free to contact me with questions directly at 610-999-7693 or via email at Sellinghomesjenn@aol.com. I would be more than happy to show you all properties on the market that match your specific needs and wants.

Have a wonderful day.

Jennifer Daywalt, Realtor
Re/Max in Collegeville's Top Realtor in 2004, 2005, 2006, 2007 & 2008
Serving Montgomery & Chester Counties
Re/Max Results Realty
123 W. Main Street
Collegeville, PA 19426
Main Office - 610-489-7355
Direct Line - 610-999-7693 http://www.JenniferDaywalt.com
Sellinghomesjenn@aol.com

Hi!
First thing you need to get approved, Chris Holloway is with Wells Fargo his O: 215-572-4839
C: 215-852-5385. He will take care of you and go over everything with you. He is very good at what he does!
Next, when you met with an Realtor the first time, treat it as a interview. Your interviewing them and they are interviewing you. If you feel comfortable with the Realtor then move forward with them and start your home search!
I would love to meet with you to see if we could work together!

Kimberly Collins
Realtor, ABR

Keller Williams Realty Group
O: 610-792-5900 Ext 8177
C: 610-476-7519

Hello First Time Homebuyer. You just missed my First-Time Homebuyer Seminar......I would be happy to send to you the materials and handouts that I provided. Just call me at 610.324.5240 or email me at judy@JudysFineHomes.com.

One of the first things you need to do is, as you noted, find a real estate agent you can trust. Is there ANYONE in your local area that can refer someone? Do a google search for local realtors. Choose 2-4 of them and then interview them. Yes, YOU interview them!!:) And don't be afraid to ask them the hard questions: like how they differ from other realtors? how responsive they are? what they do specifically to assist first time buyers, etc. When deciding which realtor to go with, I always suggest you "go with your gut"! In other words, which agent did you meet with and really "click" with...who gave you a good feeling and a feeling that you could trust them.....and which one did you really like (this is important.....they will be guiding you through an involved homebuying process....you need to get along and, foremost, you need to TRUST their knowledge, experience and availability to you.

Then you will need to get prequalified (not just preapproved) through a lender of your choice. (You can actually begin this process as you are interviewing realtors). I know of a phenomenal mortgage rep....if you're interested, just let me know. He offers a no-cost, no-obligation over the phone meeting....after which he'll be able to give you a realistic price range for yourself, etc.

After being prequalified and knowing what your budget is based upon your financial situation, the fun of actually house-hunting begins.

I hope this helps.....Please don't hesitate to call me at 610.324.5240 or email me at judy@JudysFineHomes.com with any questions you have. It would be a pleasure to meet you and, perhaps, vie for the coveted position of serving as your realtor for your very first home purchase! (BTW: there's never been a better time to buy....historic low interest rates and great prices......GOOD LUCK!!:)

Warmly,
Judy

PS You can search the greater Collegeville Area MLS on http://www.CollegevilleAreaHomes.com. It's easy to navigate AND you can save your searches!

The first thing is to sit down with a loan officer and get prequalified. You can go to http://www.hud.gov and see names of lenders and choose one from there. There are good resources for buyers on the web site. Interview agents and ask for references.. Check out their web site. Ask your friends who bought a house recently. Attend a home buyer seminar if possible to learn about the process.
Please remember that the agent at the open house represents the seller.Do not give any personal information to the agent. Read the consumer notice .it will explain agency law in Pa. You should work with a Buyer's agent who will look out for you and help you negotiate. If you are looking at new construction and want to be represented, you should go with your agent at the initial visit.

Interview and find your comfort level first. Perhaps I can help. Feel free to contact me.
Maureen.McCarthy@prufoxroach.com
Realtor
Prudential Fox & Roach REALTORS
653 Skippack Pike, Suite 200
Blue Bell, PA 19422
Office: 215-542-2200
Direct:215-619-2316
Cell:484-431-5973
Fax: 215-542-2222
My BLOG Real Estate Matters} http://maureen-mccarthyrealtor.blogspot.com/
Professional profile} http://www.prufoxroach.com/agentoffice/agentsearch_results.cfm
Website}: http://www.prufoxroach.com

Hello Anonymous,

You have received quite a response on your question. I would like to wish you the best of luck on your home search. Purchasing your first home should be a wonderful and exciting experience. I reviewed all the comments and just wanted to add a few of my own. My first suggestion (agreeing with some of the other comments) is to find an agent that specializes with first-time buyers. Find an agent that is willing to spend the time YOU need, explaining the processes so that you have a good understanding of all of the steps involved and giving YOU the time to make the decision that is best for YOU. My clients are primarily first-time buyers and they do tend to take more time than a buyer who maybe on their second or third home. Every agent is different when responding to the needs of their clients. Find one that is going to work with you.

I also wanted to mention, since you stated that you are in the processing of saving up for your down payment, Montgomery County has many grant programs that assist with closing costs and down payment funds. There are specific guidelines to qualify for each program, but it would definitely be something to consider as a first-time buyer. In addition, Genesis Housing Corporation http://(www.genesishousing.org) holds a wonderful program called “Homebuyers Counseling Classes”. The classes are free and run every month. There are three sessions: Understanding Credit, Money Management & Home Buying Basics. I personally sat through these classes, just to see if it would be worth recommending to my First-Time Buyers and have done so ever since. I have not had one buyer say that they felt it was a waist-of-time. You can find all the information on their web site or call 610-275-4357 to register for the classes. The next session begins Monday, January 5th and the February session starts February 2nd. The program also briefly reviews the assistance programs I mentioned previously. Best of luck in your search and If I can be of assistance in any way, please do not hesitate to contact me directly at DeniseBrownHomes@comcast.net or on my cell at 484-459-4103.

Denise Brown, Realtor
RE/MAX Achievers
610-819-1500

Hi Anonymous!
Your questions are all well-founded. First, I would choose an agent who is an Accredited Buyers Representative(ABR). Make sure you feel comfortable and confident. Secondly, I would get pre- approved for a loan. Your agent can help you with that. This way, you'll know exactly what you can spend comfortably for your new home. Then you will be able to shop with confidence. Also, please remember this: The seller pays our commissions. Best of luck to you.

I'd be happy to go to work on your behalf! MARK HABAN, ABR, CRMS KELLER WILLAMS R.E. 610-495-2885

Anonymous, You are making a major decision and the only way to be sure you do not have your lack of knowledge taken advantage of is to become informed. It is your financial committment and your decision, there is no excuse for not working to learn all you can to protect yourself.

http://www.govloans.gov/govloans_en.portal?_nfpb=true&_p…
This link has all current gov. loans and will help you decide if you may be eligible for one..

http://www.ofheo.gov/PublicInformation.aspx?Nav=136 ..This gov. site has tons of information about loans, predatory lending, and links to many information sites.

http://www.bhgrealestate.com/Views/Look/Default.aspx ...You can type any city or zip code in and get Housing trends, number of sales, crime statistics, school info and more..All taken from public records

http://publicrecords.onlinesearches.com/ ..A site to help you search for public records

http://www.trulia.com/home_prices/Pennsylvania/Montgomery_Co… ..Trulias interactive map, good for keeping track of a variety of information..

If you use the available information to become informed then you can talk to a lender/broker and interview agents to find one you feel will work with you to achieve your goals...There are many more sources than I have suggested, so protect yourself, your money, your future and and make an informed decision...

Best of luck, Dunes

If you are a first time buyer, it is important for you to work with an agent who is very experienced in the first time buyer arena. Remember, you are hiring an agent to represent your interests, therefore, don't sign a long term buyer agency agreement until you are sure that you have found the right person. You and your agent need to see if you are compatible. If you sign with the first person and are locked into them for 6 months or longer you will be stuck. Try to find an agent who will do a non-exclusive buyer agency at the beginning. That way, the agent is protected for any homes that he/she shows you, and you have a chance to get to learn their style of work. Here are some things to consider when you are speaking to your prospective agent:
- What do you know about financing?
- What can you share with me about first time buyer programs and available grants?
- Will you know if I can qualify for grant money?
- Do you ever list homes? If so, how long does it take for them to sell (if your agent is a good lister, he/she will understand value issues and will help you get the best price for your new home)
- Do you own a home? If so, how many homes have you owned?

If you would like some other help in choosing a realtor, let me know. I have worked with many first time buyers over the years and know that they need special attention because buying your first home can be overwhelming.

Good luck and Happy new Year

Carol M. Cei
ReMax Millennium
215-643-9661
carolcei@remax.net

I bought my first home about 7 months ago. So I myself have just gone through all those new things you are talking about. Plus I am a fairly new agent only about a year. I have closed 10 transactions in that time so i am very confident with the process and negotiations. I would be more than wiling to work with you from beginning to end and get you connected with a loan officer to see what you qualify. the time is definitely right to buy. One thing I do that sets me apart is I rebate 20% of my commission to you at closing. So not only are my services free but you even get a bit more for working with me. Please check out my website and call me with any questions you may have.

RJ Avery
214-682-0598

You need contact mortgage broker become qualified to purchase a home. Loan officer will provide you a statement for lender approval instructs realtor regarding other particulars to your file. Interview real estate agents, find one you like who will work with your personal / professional lifestyle previewing homes.

Know what you want be specific realtor which cuts down wasted time on your behalf.

This may sound a bit simplistic but qualifying for a home mortgage is not too difficult. Essentially, your credit file is run through an automated system that will determine what you qualify for. However, you may find that you can be "approved" or more than you are comfortable paying.

I would be more than welcome to speak to you and let you know how we qualify you and then you can move forward with your home purchase.

Have a great day!
Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Buying a home is not "look at one day and move in the next". It can be a long process. You may find a prefect home in less than a week or it could take months to find the right one. This is why it is imperative to interview agents in the area. You can find out who's around for the quick buck and who will be there for all of your current AND future needs. See who answers your questions professionally. As a previous poster stated, findind a home is the fun part yet is may be far from easy. But the bond you create finding a home can last forever if you find the right agent to help. Which is where the agent gets the real income. Referrals.

Hope that helps,

Terrecne Charest

Talk to people you know and ask if they can put you in touch with a good Buyer's agent, i.e. a Realtor who specializes in working with buyers. Most real estate web sites like Realtor.com have a "find a Realtor" feature where you can do a search in your geographic area and look for agents with the ABR (Accredited Buyer Representative) designation. Those with the ABR designation have taken additional training to specialize in assisting home buyers and are happy to work with first time home buyers. By law, the Realtor you hire to assist you has to put your best interest first so you can feel confident entrusting yourself to him/her.

Contact the Realtor explaining that you are a first time buyer. Meet with the agent to see if you are comfortable with that person. Does the agent work full time? Is he or she technically savvy since so much in real estate is done utilizing email, websites, texting, faxing, etc. The agent will not only explain the buying process but can also put you in touch with a loan originator who can quickly do a complimentary pre-qualification to determine how much you can comfortably afford to buy, advise you on what you should do if you need to get your credit in better shape, etc. If you are financially ready to buy, the loan person can issue a pre-qualification letter that you will need once you find a property you wish to purchase.

Working with a Realtor you feel 100% comfortable with you should be all set.

As of January 1st the minimum amount you will need to buy is 3.5%. While the more you put down the better, but buying while prices are down and at lower interest rates may be a very good idea. And Seller assist can be used to pay your closing costs.

Good Luck.

Hello again,
Thats why your best bet is to talk to a mortgage prof. In todays market you can take advantage of FHA financing which is only 3% down. You can also ask for up to 6% in seller assistance for closing costs.
There is also a Federal Tax Credit for up to 7500 that you may qualify for. Dont feel like you are wasting anyones time. We are all here to provide you with the info you need to make an informed decision. It is our job to guide you through the process and answer any questions you may have!

All of you so far have been very helpful. Thank you. We are in the process of saving for some kind of down payment. I do worry with the market that we won't qualify for a mortgage with little money down. It sounds like now a days you have to have 10-20% down to get anything. If this is true than we won't be able to do this for a long time. Also, we have concerns of how much the closing costs would be, so we can take that into consideration with saving as well. I haven't talked to mortgagers and realtors yet because I'm afraid of "wasting their time". That's why I came here for my questions.

I would get connected with a strong buyers agent in your area. Ask around for a referral. If not, do some research online. That agent can refer you to one or two mortgage professionals to get the preapproval process started asap.

Feel free to search our site at http://www.thesomersteam.com for more helpful hints as well as searching for properties. Our specialty is Philadelphia but we can provide a referral for you if need be in Royersford or Collegeville if that is where you are looking.

Chris Somers

Hello, I live in that area and can give you background info on any property you are looking at. I would call a mortgage professional or I can have one call you, they can run your credit or at least your scenerio to give you an idea of the price range to look, how much you will need for a down payment, etc. I can help you get a great price, have the seller help with closing costs etc. I move quick, so in order to get the price you want, you have to be willing to move in the home right away. How motivated are you to do this. Call me on my cell anytime.

Cheryl Supplee
Coldwell Banker Preferred
610-812-6575

I am an agent and resident in the Collegeville area. I have assisted many homebuyers move into the area and can provide references. First-time homebuyers are a specialty and I believe that you'll appreciate my candor and guidance.

As for the steps you need to undertake, they are as follows:
- Pre-approval: this is your "golden ticket"; needs to accompany any offer and, more importantly, assists in establishing our search parameters
- Buyer's Agent: this person will be your advocate and guide through the entire process, providing valuable insight into negotiations, pricing and financing
- House Hunting: this is the fun part and easiest; the real work begins after contract acceptance

I welcome the opportunity to interview for the job! Good Hunting!

Hello Anonymous,

As you start to receive answers to your questions you will see some common themes. 1. Call a lender and get pre approved. 2. Do not pick a name out of a hat. 3. Hire an agent that has the CRS (certified residential specialist) designation. 4. Interview several agents (at least 3) before making a decision.

I would like to interview for the job. Let me show you how I work.
My contact info is below.

Thanks

Gregory S. Parker, CRS
Coldwell Banker Realty Professionals
2924 Swede Road
East Norriton, PA 19401
Office 610-277-5000 Ext. 249
Direct 610-994-1147
greg.parker@coldwellbanker.com http://www.PhillyAreaHomeHunter.com

Hi Anonymous, you are correct to begin with getting prequalified for a mortgage. the best thing you could do is look at your finances and decide how much you can afford for a monthly mortgage payment. Often people qualify to borrow more than the payment they feel comfortable with. Please contact me to get prequalifed for a mortgage, we can have a 10 or 15 minute conversation and I can tell you whether or not you will qualify.

as for picking an agent, you shouldn't have to leave the choice of agent up to fate, or darts or anything else. I can either refer you to a great Coldwell Banker agent in your area, or you should ask friends, family or neighbors for a recomendation of a REALTOR they have used and like. that is usually your best bet for getting a good agent. Also, keep in mind that if you are a buyer your agents commission will usually be paid by the seller, so you don't have to worry about being taken advantage of.

hope this helps, my contact info is below.
Thanks
Dale

Dale Archdekin
Realtor
Coldwell Banker Preferred Old City
223-225 Market St.
Philadelphia PA 19106
Direct: 215-370-1236
Office: 215-923-7600
Fax: 215-940-8207 http://www.cbpref.com

There are a few things you need to do. First and foremost, get in touch with a local lender or mortgage broker. They will work with you in figuring out what you can afford. But the bottom line will always be yourself. You need to ask yourself what you can afford. Just because the lender says you can afford $2K per month in payments doesn't mean you really can.

You will also need to get in touch with a local Realtor who will assist you in every step of the process. Working with a buyer's agent will elliminate the need to call everywherer and scheduling appointments. Just use one agent who will do everything. Also, the agent needs to show you not only what is currently on the market in the MLS, but also those which are For Sale By Owner and those which are recently expired. This will give you many more options.

I hope that helps. Give me a call for any further assistance.

Terrence Charest, e-Pro®
REALTOR®
Century 21 Associates
905 Easton Road
Willow Grove, PA 19090
Cell (Preferred): 267.614.1494
Office: 215.659.5250
Fax: 215.659.5550
tcharest@HomesForFreedom.com

Hello Future Home Owner!
You pose some great questions here. The first thing to do is to get pre approved. This is a very simple process and can either take a recommendation from someone(your agent will know a few people) or talk to someone at your local bank. At least you will then know where you stand. Feel free to contact me at LeeStiber@kw.com or at 267-253-0216 and I would be happy to walk you through every step. I specialized in the Montco area and working with first time buyers that are also in your situation. Its a very exciting time! As far as selecting an agent, I think you should just contact me and end the search there..lol..Kidding.. Dont go the yellow page way. Either take a recommendation from a friend or someone you know who has worked with the agent and has had good dealings or im sure you will get tons of responses from great agent here. The agents on Trulia are top with using technology. Also, here is a website you can check out to search for home using text messages. http://www.TextPaHomes.com Dont hesitate to contact me if you have any questions or concerns, there is no obligation!