In the final months of 2016, first-time home buyers made up a large portion of total home sales each month. If you’re looking for your first home in Cabarrus County, North Carolina, the agents with Amber Lube, Keller Williams Realty Concord/Kannapolis want you to know a few helpful resources available to you.

5 Resources for First Time Home Buyers

1. Federal Housing Administration (FHA) 

The FHA is a great resource for first time home buyers with complicated financial situations. For example, FHA loans are less likely to be denied for bad credit, which is beneficial for first time home buyers who may have damaged or nonexistent credit. Furthermore, most FHA loans only require a 3% down payment, so you won’t have to save as much cash. Finally, FHA rates are more competitive than other lenders, so you won’t pay as much interest over the course of your mortgage.

2. Department of Housing & Urban Development (HUD)

The Department of Housing & Urban Development website contains a list of resources divided by the steps in the buying process, from determining your budget through what to bring to closing. This all-encompassing nature means the HUD website is a convenient guide book for new buyers.

3. Fannie Mae

Fannie Mae, more properly known as the Federal National Mortgage Association (FNMA), offers government-backed loans for aspiring homeowners through a third party. Additionally, the organization provides educational programs, like online courses, for first-time home buyers. They also offer a variety of resources on their website that are free to the pubic.

4. Your Real Estate Agent

Your real estate agent has an impeccable knowledge of the community and the listings in the area to get you in the location you want; you can save yourself time by letting them search and only show you homes that meet your needs. From a financial standpoint, these professionals have been through the contracts and closing procedures many times and can alleviate any anxiety you have. 

Many resources exist for people buying real estate, but starting with this list will give you a balanced set of tools. Remember, the process is easier with an experienced realtor, so reach out to one of the agents with Amber Lube, Keller Williams Realty Concord/Kannapolis when you’re ready to start the search. Email or call Amber at (704) 577-5966 or contact fellow agent Leaurel at (704) 467-0685 or by email.