Home Buying in Philadelphia>Question Details

Mary Williams, Renter in Philadelphia, PA

Im a renter and i want to buy a home. How do i go about entering a promgram for 1st time buyers. I dont where to start.

Asked by Mary Williams, Philadelphia, PA Fri Jul 29, 2011

Help the community by answering this question:


Hello Mary,

My best advice that I always give to consumers is to first find a buyer agent. If you do not know a buyer agent, you can find one here on Trulia by sifting through the agents who answer your question in a way that makes you feel comfortable. If you find a buyer agent who you feel comfortable with and can trust that person, they can help you find a mortgage consultant who can explain all the programs that are available to you.

A lot of people first go speak with a lender and then go find a buyer agent or just choose the agent on the sign of a property that they like. I always advise consumers to never use the agent on the sign because you are then entering into dual agency and dual agency is never in a buyer or seller's best interest. I do not want to go so far off topic but if you are not familiar with buyer, seller or dual agency, I would be very happy to explain them to you and the benefits and disadvantages.

To answer your question though, once you find a buyer agent who is an expert negotiator and who will put your best interests above their own not matter what, you can then find a mortgage consultant who will be just right for you. It's important to make sure that both the buyer agent and mortgage consultant will be there for you through the entire process and that includes attending settlement.

I do not want to babble on. Please feel free to check out my blog and my video blog at http://www.reneeporsia.com I'm sure I answer many of your questions on both of these blogs. Also, I'd love to know more about your situation and take the time to listen to your future goals. Feel free to either contact me at 215-669-0589 or e-mail me at reneeporsia@mac.com

Good luck. :-)

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office (ask for Renee)
1 vote Thank Flag Link Fri Jul 29, 2011
0 votes Thank Flag Link Fri Jan 10, 2014
I would tell you to first check your credit score because honestly nobody can do anything for you if your credit score is under 620. If you do have d decent credit report contact an experienced, honest agent and they will put you in touch with all the right people, don't waste your time trying to get a mortgage if you have bad credit
0 votes Thank Flag Link Sat Jun 9, 2012
Hi Benjamin,

I would like to have that one on one you mentioned above to learn the buying process. Could you contact me please so we can set something up?
0 votes Thank Flag Link Sun Sep 11, 2011

I would suggest contacting 2-3 agents and asking them to sit down with you and explain the home buying process. This is a good way to get to know a few different agents. It is a terrible thing to use an agent whom you don't feel like you know or trust.

Personally, I offer free Home Buyer 101's to any interested party. I usually like to do it over a cup of coffee at a local coffee shop convenient to you. Of course I am happy to extend the offer to you, just let me know if you're interested.

Let me know if you have any other questions and I'd be happy to help.

0 votes Thank Flag Link Wed Aug 10, 2011
This is simple 1) go to http://www.hud.gov 2 http://)www.naca.com 3) call me at 215-725-5700 x49 and I'll answer all your questions and help you to start the search for a mortgage and a house
Phil Cunningham
VIP Realty Corp
Web Reference: http://www.GreatPaRE.com
0 votes Thank Flag Link Tue Aug 9, 2011
Hello Mary! Its great that your ready to make that step! What better time to do it too with interest rates so low and house prices low. I would start with a loan officer. A loan officer should help you with programs for financing. Also find yourself a good agent that you feel you can work with to help educate you about local programs for first time homebuyers! I wish you the best of luck!

0 votes Thank Flag Link Mon Aug 1, 2011
Right now I recommend looking into the USDA 100% financing program. It is a great program and it is getting buyers into their dream homes with little to no money out of their pockets. I just settled some buyers last week that put out around $1000 at closing and are loving their new home! Hope this helps!

Debbie Orzel
Keller Williams Real Estate
Office- (215) 631-1900
Cell- (215) 982-8485
0 votes Thank Flag Link Mon Aug 1, 2011
I have worked with the local Community Housing Council; it helps low income first-time-buyers with education, grants, connections, etc.

I just Googled PHILADELPHIA and FIRST TIME BUYER and I saw at least 10 sites for help and education.

Go for it.

Good luck and may God bless
0 votes Thank Flag Link Mon Aug 1, 2011
Hey Mary,

I agree with my fellow agent laksman, anyone in this profession can help you. I will advise to at least meet with 3 agents to see who do you feel more confortable with. You'll be able to know if who you areworking with its really giving you the time needed to help you in this process. About getting pre qualify for the loan, all realtors have a bussiness relationship with different banks, so am sure who ever you decide to work with will be also able to put you in contact with a lender. you can also go to your current financial institution and apply with them as well. If you have any questions don't hesitate in contact me, am always available for interviews :)

good luck
0 votes Thank Flag Link Fri Jul 29, 2011
Well a good place to start would be to speak with a financila advisor and see where your budget lines up. Hopefully your budget is in line with your taste. Then once you know your budget I would say look within the geography you want for homes in that budget. Most important is to find the financial person who has your interests coming first. Most agents have a set of financial people they trust and you can interview them to see which has the best resources for you to call upon. Have fun with it getting a home is such a fun adventure.
0 votes Thank Flag Link Fri Jul 29, 2011
Hello Mary, there are local and federal programs for you. Be selective on how many loan officers pull your credit.... it may effect FICO's. For a personnal explaination + Consult.... feel free to call us at 1-866-473-6290.
All the Best, John + Sheri
Web Reference: http://www.HomeCatch.com
0 votes Thank Flag Link Fri Jul 29, 2011
Hi Mary,

There are a few first steps. First is getting you prequalified for a mortgage. Second is seeing if you qualify for any of the state and federal down payment assistance programs. Next is compiling a list of homes that fit your criteria (wants, needs, price, low taxes, etc).

Let me know if I can guide you through the process and help you find some good homes to look at.
Web Reference: http://www.FamousEric.com
0 votes Thank Flag Link Fri Jul 29, 2011
Hello, Mary,

Sometimes you can work with a Realtor who is experienced with First Time Buyers. Philadelphia and the surrounding counties have some programs for first timers - it will depend upon where you want to live. Also, your credit score will be a factor in where you can apply, participate etc. This is a pretty complicated question.

When you are ready, if you would like to chat with me, just let me know. I have had a lot of experience with first time buyers - it's a process that requires a lot of patience. While you are looking, you can check out home values and activity for any zip code in the USA by going to http://www.sendmyvalue.com. You will get an instant report sent to your email address.

I hope this was a bit helpful. Good luck with everything.

Carol Cei, Realtor, ePRO
Five Star Professional
ReMax Action Realty
215-358-1223 Office
215-643-9661 Cell
Web Reference: http://www.carolcei.com
0 votes Thank Flag Link Fri Jul 29, 2011
Many of the first time buyer programs are area specific especially if you are looking for 100% financing.
If you are looking to stay in the city, there is a limited program for 4k of assistance if you work for certain employers.
Please email me right away and I can help you on your way!

Emily Landis Torres
REMAX Central
215-362-2260 ext 1793
Direct: 267-640-2327
0 votes Thank Flag Link Fri Jul 29, 2011
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