First-Time Home Buyer Steps: A Guide on How to Buy a House

The steps to buy a house might seem complicated—particularly if you’re a first-time home buyer trying to purchase real estate for the very first time. Between down payments, credit scores, mortgage rates (both fixed-rate and adjustable-rate), property taxes, interest rates, and closing the deal, it’s easy to feel overwhelmed. There’s so much at stake with a first home!

Still, if you familiarize yourself with what it takes to buy your first home beforehand, it can help you navigate the real estate market with ease. So let’s get started!

In this step-by-step guide, you’ll learn what it takes to buy your first home, from beginning to end. Whether it’s your first time in the real estate market or you’re an experienced homeowner who wants to brush up on your skills, this list has you covered.

Step 1: Start gathering a down payment

The very first step every first-time home buyer should

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How to Buy a House With No Money Down in 2020

Borrowers curious about how to buy a house with no money down should know that no-down-payment home loans exist. There are low-down-payment options, too. You can even use first-time homebuyer down payment assistance programs to help cover your loan expenses.

What is a zero-down mortgage?

A zero-down mortgage is the same as buying a house with no money down, meaning the lender provides 100% of the financing. No-down-payment home loans are difficult to find because lenders generally prefer borrowers to put some money down to offset the risk of default. Homebuyers — especially first-time homebuyers — may be able to take advantage of local assistance programs to cover their down payment. Combining assistance programs with low-down-payment mortgages can result in little to no down payment if you qualify.

No-down-payment home loans

We’ll take a look at your options for buying a house with no money down, as well as what

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How To Buy a Building: Commercial Property Purchasing Process

The commercial property asset class can be a highly profitable and productive portion of your investment portfolio. Depending on the market cycle, buying at the right time and purchase price can help real estate investors build long-term wealth. Commercial buildings fall into many categories, each with their own nuances.

There are substantial differences between buying a building in the commercial space and single-family homes. Here’s an overview of what buying a commercial building looks like, the steps involved in the various types of assets under the commercial umbrella, and whether real estate investors should try to get in on the action.

How to buy a building: commercial vs. residential

Buying a building in the single-family market is significantly different from buying one in the commercial space. Here are some quick facts to consider when thinking about buying your first commercial building.

Lending

One difference between buying a commercial building and

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How to Prepare to Buy a Home: First, Use This Checklist

Even a first-time home buyer knows that a new home is not an impulse purchase. You can’t just waltz in and declare, “I’ll take it!”

Long before you get to making that offer (on paper, through your real estate agent)—and even before going to your first open house—there are a ton of things to do and to prepare.

Overwhelmed? Here’s a checklist of everything you need to do to get ready to buy a new home.

1. Check your credit score

Do not pass “Go,” and do not start looking at real estate until you have checked your credit score. This is the number that mortgage lenders will look at to determine whether you are creditworthy, and will dictate the rate you will be charged by the bank.

The higher your credit score, the lower your interest rate—and that’s what you’re going for. Get a free copy of yours at

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How To Buy A House Without A Realtor

Buying a home without a real estate agent can save you money on commissions and allow you to shop on your own timeline. Here’s the process you’ll go through to buy a home without a buyer’s agent.

Step 1: Get Preapproved For A Mortgage

When you buy a home without a real estate agent, the first thing you’ll need to do is get preapproved. A preapproval is a way to find out what you can afford so you don’t shop for homes outside your budget. It’s also a way to show sellers you’re serious when you’re making an offer; preapproval shows that your financing won’t fall through.


You can use Rocket Mortgage® to get approved online and see how much you can afford. Just answer some questions about your income, assets and the home you want to buy. Then, we’ll check your credit to give

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Best Time to Buy a House: Best Month, Season and Why?

In general, there are three ways to evaluate the best time to buy a home:

  1. Best month: In every real estate market, there’s always a best month to buy a house or best season to buy — even in a down market.
  2. Best year for market and economy: Broader market trends, the state of the economy and your local job market can also dictate a better or worse time to buy.
  3. Best time for you: Market characteristics aside, you should plan to buy when it makes sense for your personal finances and moving timeline.

When is the best month to buy a house?

Late summer is the best season to buy a house if you want a shopping experience with enough inventory to find a home you love, while benefiting from sellers lowering prices before the fall. Therefore, the best month to buy a house is August.

Generally speaking, buyers

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Best Places To Buy Commercial Real Estate in 2020

Key Takeaways


The commercial real estate market, not unlike the single-family housing and residential markets, is subject to cyclical trends. Investors are constantly on the lookout for how these trends might affect their individual markets for the foreseeable future and asking themselves: what are the best commercial real estate markets? These ever-changing trends and their impact are what drives an investor’s strategy on how they will edge out their competition. In order to better understand the current and upcoming commercial real estate market trends, it’s also important to review the trends that brought us to where we are today.

Understanding Today’s Commercial Real Estate Market

The real estate market has proven to be a reliable and successful wealth-building tool for investors in recent years and was expected to continue its growth in 2020. However, as the effects of the COVID-19 crisis have spread throughout the country, many are concerned

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Best & Worst Time to Buy a House: Month-by-Month Analysis

The United States housing market has rebounded from the 2008 crash. If you bought a property at the lowest point of the recession and still own it, your asset has likely appreciated by 25% or more. The housing market is predicted to decline in 2020, so what is the best month to buy a house?

To help you decide, we compiled historical national housing data from the Federal Reserve, Census Bureau, National Association of Realtors (NAR), and Zillow. We then determined the best and worst time to get a deal on a house. We also discuss other factors that buyers may want to consider when timing their purchase, such as the number of homes on the market.

Best & Worst Months to Buy a Home

The real estate experts we talked with said price was the main determinant when deciding what is the best month to buy a house. Buyers

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Here’s What it’s Really Like to Buy a House During a Pandemic

Editor’s note: All of HomeLight’s coronavirus information for buyers, sellers, and agents is available on our COVID-19 hub.

If you’d been planning on buying a house before coronavirus, how has the pandemic changed the homebuying experience? Getting an inspection and an appraisal could be a challenge, and your closing might be delayed. But reading about what could happen is different than knowing what has happened to other buyers.

Here are four stories about buying a home during coronavirus. Each homebuyer faced unique challenges — everything from the risk of water getting turned off in their new home to picking out countertops remotely — and their stories can give you a good idea of what to expect when you’re expecting… to buy a house during a pandemic.

A house bought during coronavirus.
Source: (Jen Trail / Ruum Media)

Buying a house that needed city sign-off

Agent Bonnie Roseman, who works with 82% more single-family homes than

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Retail giant Best Buy retailer won’t pay for fridge flood its own contractor caused | 7 On Your Side

ELTINGVILLE, Staten Island (WABC) — When a new fridge flooded and caused thousands of dollars in damage, a young couple says a retail giant turned its back on them.

“To be honest I was so upset, I couldn’t even handle it,” Jason Anello said.

Welcome to Jason and Abby Anello’s newlywed nightmare. Their new home was ruined before he could even carry her over the threshold.

“It’s just been a big headache,” Anello said.

He’s talking about the thousands in water damage due to a faulty fridge installation.

The listing for their Staten Island home caught their eye and features an open floor plan with a big kitchen and hardwood floors. So, they bought it.

“We put a lot of money into the house with renovations,” said Anello.

RELATED | 7 On Your Side: Young car-buyer wrangled into a ripoff

One of the expenses included a fancy new fridge from

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