Facts For The First Time Tampa Bay Home Buyer

What You Need To Know About Being A First Time Home Buyer In Tampa Bay

HOMM Real Estate is here to help with your first time home buyer needs! We proudly serve Tampa Bay and the surrounding areas. Here are some key facts to keep in mind as you begin your home buying journey:

– In order to avoid paying private mortgage insurance (PMI), many first-time homebuyers opt for a conventional loan with a down payment of at least 20%.

– FHA loans are popular among first-time homebuyers because they require a smaller down payment of just 3.5%. However, these loans come with additional costs, such as monthly mortgage insurance premiums.

– Some lenders offer special programs for first-time homebuyers that can make it easier to qualify for a loan. Be sure to ask about these when you shop around for a mortgage.

– It’s a good idea to get pre-approved for a loan before you start shopping for homes. This will give you an idea of how much house you can afford and help you narrow down your search.

If you have any questions, HOMM Real Estate is here to help. As one of Tampa Bay’s premier property management companies, HOMM Real Estate Services provides professional rental services, tenant screening services, and much more. We do the work so that you can enjoy your investment passively without the fuss of interacting with tenants and property management tasks. Contact us today at (813) 684-5954 for more information!