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17 First-Time Homebuyer Mistakes to Consider and How to Avoid Them

Redfin

Not taking advantage of government-backed loans A common first-time homebuyer mistake is overlooking government-backed loans when these programs can make homeownership more accessible. Options like FHA loans , VA loans , and USDA loans offer low down payments and more lenient credit guidelines.

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How Long Can a House Be Under Contract?

Norada Real Estate

Additionally, the type of financing being used, such as FHA or VA loans, can also impact the length of the under-contract period. Title Search Contingency The title search contingency allows the buyer to ensure that there are no issues with the property's title, such as liens or ownership disputes.

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How to Buy a House in San Diego: 14 Steps to Close the Sale

HomeLight

Department of Housing and Urban Development (HUD) website to find the FHA loan limit in the county where you’re shopping for a home. Special programs VA loans: For veterans, service members, and surviving spouses. Loans backed by the VA offer 0% down payments for those who qualify. Visit this link on the U.S.

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Your Guide to Buying a Home in the Sunshine State of Florida

HomeLight

For example, in Alachua County, FL, the maximum loan amount is $420,680 for a single-family home, while in Monroe County, FL the loan limit is $710,700. Find the FHA loan limit for homes in the county you are looking to purchase in here. VA loans : For veterans, service members, and surviving spouses. Closing date.

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Your Ultimate Guide to Buying a Home in Connecticut in 14 Steps

HomeLight

For example, in Fairfield County, CT, the maximum loan amount is $695,750 for single family homes, while in New Haven-Milford County, the loan limit is $420,680. Find the FHA loan limit for homes in the county you are looking to purchase in here. VA loans : For veterans, service members, and surviving spouses.

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How to Buy a House in the Bay Area: 14 Steps to Close the Sale

HomeLight

For example, in Alameda County, the maximum loan amount is $1,089,300 for single-family homes, while in nearby San Joaquin County, which includes the cities of Stockton and Manteca, the loan limit is $656,650. Find the FHA loan limit for homes in the county you are looking to purchase here.

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Beaches, Mountains, Sunshine? Yes, Please. Here’s How to Buy a California Home

HomeLight

Mortgage insurance premium (MIP) paid monthly for the life of the loan. VA loans are available to current service members and veterans who meet eligibility requirements. There are two types of VA loans — a VA direct home loan (uncommon) and a VA-backed home loan. Order a title search.