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FIrst Time Home Buyers Corner
The benefits of Homeownership
Congratulations on deciding to learn more about buying your first home. It’s a decision that holds the potential to change your life—for the better—but it can also feel overwhelming and daunting. You might find yourself asking, Am I ready? Is now the right time? Rest assured, you're not alone in these feelings. Many first-time buyers experience the same uncertainty, but the good news is that with the right guidance and resources, you can confidently take this exciting step toward homeownership.
Why Buy a Home Instead of Renting?
Renting does not provide stability; your landlord can sell the house you are renting and raise the rents by up to 10% annually. According to a recent survey, rent has been steadily rising. From 2020 to 2024, the average rent climbed by 24.2%, with an average annual growth rate of 4.99%.
A 30-year fixed-rate mortgage, on the other hand, gives constant monthly payments that protect you from erratic rent increases and give financial security. Additional income tax reductions may be available at both the state and federal levels.
Building Equity and Generational Wealth
Homeownership is a powerful avenue for building long-term wealth.
This appreciation not only enhances your net worth but also offers the opportunity to pass down wealth to future generations, creating a legacy. The value of a median-priced house in the United States rose by $190,000 over a ten-year period, averaging a gain of $19,000 annually. The sooner you become a homeowner, the sooner you will start building long-term wealth for your family.
First-Time Home Buyer Lender Amy DeBusk Home Loans offers First Time Home Buyer Loans that offer solutions for clients who may need down payment assistance. Down Payment Assistance loans are available for first-time home buyers who earn less than $225,000 a year in places like Roseville, CA, Sacramento, CA, & Elk Grove, CA.
Knowledge Is power
The rise in home equity has significantly widened the wealth gap between homeowners and renters. Homeowners are building wealth at a much faster pace, emphasizing the financial benefits of owning a home versus renting.
Your Step-by-Step HOme Buying Journey
Discovery Call
Our journey begins with a 30-minute no-pressure consultation where we’ll discuss your goals, dreams, and financial situation. Whether it’s your first home or an upgrade, this is your opportunity to share your vision, ask questions, and set expectations for your home-buying timeline.
Pre-Approval
We’ll assess your financial profile, including income, credit, and other factors, to determine your buying power. This step positions you as a serious buyer and gives you a clear budget for your home search. Plus, we make it simple and stress-free so you can focus on what matters—finding your dream home.
Loan Product Selection Consultation
Choosing the right loan is key to a successful home purchase. We’ll compare multiple loan options—VA, FHA, conventional, USDA, and more—to find the best fit for your needs. Throughout this process, we’ll educate you about each option, ensuring you feel confident in your decision.
Shopping for Your Home
Finding the perfect home takes teamwork! We’ll connect you with trusted, top-performing real estate professionals in your area. These experts will help you navigate the market, evaluate properties, and find a home that aligns with your needs and budget. We’ll also provide guidance on current market trends to help you make informed decisions.
In Contract on Your Home
Once you enter into a contract to purchase a home, we will assist you throughout the entire loan process. This includes submitting your file for underwriting, addressing any conditions, and coordinating with all parties involved to ensure everything stays on track. Our team will keep you updated every step of the way, ensuring a seamless process that leads to successful funding and, ultimately, the keys to your new home!