First-Time Homebuyers
We Are STRONG
Strong Home Mortgage provides first-rate home mortgage services as well as mortgage financial literacy on LinkedIn, Facebook, and Twitter. We're veteran-owned and licensed in 29 states plus Washington DC. Our team of seasoned professionals is passionate and eager to help. Enjoy single point-of-contact communications on your home mortgage for fewer handoffs, more availability, better dialogue, and a smoother closing. For today's homebuying market, we offer home loan types to assist first-time homebuyers and premium buyers, plus a useful $6,000 on-time closing guarantee.
Prepare for home buying success.
Where to Start as a First-Time Buyer?
There are many considerations when shopping your first home. There’s the location, overall style, number of bedrooms/baths, and so much more. For a mortgage lender to discuss a loan, you’ll need: 1. property value (could also be your budget), 2. property type (e.g. single family), 3. location (zip code), 4. loan term (e.g. 30 vs. 15 years), 5. range of credit score(s) (e.g. excellent is 740+).
STRONG HOME MORTGAGE seeks to expand your home buying knowledge and preparedness to help bridge the gap to more experienced buyers in the market. Next steps for FIRST-TIME BUYERS include:
Programs
HomeReady® from Fannie Mae and HomePossible® from Freddie Mac are designed to help low-income borrowers with fair credit (>620 former, >660 latter) to purchase a home. Down payment is just 3%, with cancelable mortgage insurance. Explore detailed similarities, differences, and requirements below.
- Visit HomeReady® | Fannie Mae
- Visit HomePossible® | Freddie Mac
Third-Party Comparisons
LendingTree | NerdWallet | FreeAndClear | MortgageReports
Federal Housing Administration (FHA) loans offer less restrictive credit parameters and as little as a 3.5% down payment. U.S. Department of Veterans Affairs (VA) loans are reserved for active military personnel, veterans, and eligible surviving spouses. Enjoy no down payment or maximum loan amount.
Choose the right option for you.
Establish a budget for your search.
Pre-Qualification
Through an easy three-step process, STRONG HOME MORTGAGE looks to prequalify you. The goal is to signal to your seller that your finances appear sound and you can likely afford the home you’re pursuing. The process doesn’t yet involve an underwriter, so it’s a ballpark estimate. It’s based on self-reported information vs. reviewing all of your financial documents.
STRONG HOME MORTGAGE seeks to expand your home buying knowledge and preparedness to help bridge the gap to more experienced buyers in the market. Our next steps for FIRST-TIME BUYERS are:
- CONSULTATION:A loan officer collects basic details.
- REVIEW: Together, we determine the home you can afford.
- PRE-QUALIFICATION: A letter is issued, shop with confidence!
The process takes 1-2 business days.
Mortgage Financial Literacy
We cull dozens of RSS feeds daily to share the very best perspectives, reports, podcasts, infographics, and more across financial services.
Gain a deeper understanding of not only the home buying process but also financial literacy as a broader discipline. Learn how to save money and plan better for your earnest money deposit (EMD), closing costs, and more. Discover new financial tools and strategies. Budget, shop, offer, and negotiate beyond your years. Compete more assuredly with homeowners and investors for the property you desire. Rise to the top with sellers, most of whom receive multiple offers.
- Follow us on LINKEDIN
- Like us on FACEBOOK
- Check the MORTGAGE FINANCIAL LITERACY TAB HERE as we grow resources.
Shop with renewed confidence.
