Heroes San Diego’s Advice for First Time Homebuyers

November 17, 2021 by Tess Pitzer0
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Heroes San Diego helps Active Military, retired military, Veterans and Reservists take the correct steps toward home ownership. We offer educational VA workshops that show how you are able to utilize your VA benefits in order to save money when purchasing a home! Allowing us to assist you will make the home buying process stress free and easy. Whether you are buying, selling, or refinancing a home, we can help save you thousands of dollars. Heroes San Diego is Nationwide. We can help you whether you are purchasing locally, or relocating to another city or state. If you are getting deployed, our team can help you lease your home. Heroes San Diego’s rebate program gives back on average $2,500 per transaction to the hero when you purchase a home! It’s our way of saying thank you for your service. Our services are free of charge. Sign up for our online webinar that takes place every Wednesday at 6pm! Keep reading to learn Heroes San Diego’s advice for first time homebuyers.

Advice for first time homebuyers

Be familiar with your credit report

When lenders evaluate your application on a mortgage, they will check more than just your credit score. They will look at your payment habits, balances, and overall financial history. Both your credit report and score will help your lender determine which interest rate you would be eligible for. Simply put, the better your credit, the lower your interest rate will be.

Set a budget

Setting a budget can help you save for a home. When you keep track of your finances, it also gives you an idea of what you will be able to afford. Keep note that being debt free means you may qualify for a home that is five times your total household income.

Saving for a downpayment

In many cases, Military qualify for VA loans with zero percent down. This means that the downpayment is not required. Either way, it’s great to start saving for a down payment. Or if you are not using VA benefits to purchase a home, then you most definitely should start saving for one. If you end up saving a down payment and purchasing a home with zero percent down, this money can be put into the home, or saved for your next one.

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Understanding the hidden costs of owning a home

When you purchase a home, it’s important to know that the mortgage won’t be your only monthly payment. Sometimes there are HOA fees, property taxes, insurance, utilities, etc. This is before considering the maintenance and repairs. Estimating these costs can help you prepare for buying a home. Make sure to budget accordingly.

Looking into VA loans, FHA loans, and USDA loans

If you are only able to afford a small down payment, these loans are great ideas to consider. Some may require small down payments, while others require none! FHA loans are pretty much used everywhere. USDA loans are for spaces with land and more rural areas, and VA loans are for Military, veterans, and spouses.

Find a great home inspector

Having a home inspector that is great at their job and knows what they’re doing, can save you! They will look for any safety hazards, or issues with the home that you would want to know about before buying it. This can also help you negotiate the price of the home if you find repairs that need to be made. A home inspector will make sure that you are buying a home that is worth the price. Check out Elite Group Home Inspections. With inspecting over half a million homes, they really know how to look for the issues within a home. Elite Group offers both commercial and residential inspections. We highly recommend them!

San Diego, California is a beautiful place to buy a home. There are many wonderful benefits of living here. Don’t forget, that Heroes San Diego is nationwide! We can help you from anywhere in the country. We hope that Heroes San Diego’s advice for first time homebuyers was helpful. Sign up for our VA Homebuyer webinar for more information. Let’s get you on the path to home ownership today!


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