Mark Roemer Oakland Shares Need to Know Tips for First Time Homebuyers


According to Mark Roemer Oakland, someone on the market to buy a new home needs to make many decisions that would affect the next few decades of their life. The anxiety and confusion are even more significant for first-time home buyers. Let’s check out a few tips that can help first-time homebuyers.

Tips & Tricks

  1. Check your finances and decide on a budget – You need to have a solid grasp of your finances since buying a home is a major investment. Pay off as many debts as you can and don’t take new loans or credit cards. While your home is an investment for you, the loan is an investment for the bank. You need to make sure that you come off as a low-risk customer for the loan.

You’ll also need to save up money for the down payment on your mortgage. The down payment and the overall mortgage program decide your budget. Try to keep your debt-to-income ratio lower than 30 percent. Apart from the mortgage cost, you’ll also need to factor in invisible costs like property taxes and maintenance costs. There are several online mortgage calculators that can help you with the budget.

  1. Look into assistance programs – Both the federal and state governments have certain assistance programs for first-time homebuyers. These assistance programs can help you with the down payment and also offer very competitive interest rates.

Don’t be afraid to look for help from these assistance programs since they can save you tens of thousands of dollars. For instance, Indiana has the First-Place program that offers down payment assistance of up to 6 percent for qualifying first-time homebuyers.

  1. Mortgage options – There are several types of mortgage options on the market. From conventional and fixed-rate mortgages to variable-rate mortgages and mortgages backed by government programs. There are many options, and you need to investigate and scrutinize each and every one of them to make sure that you get the best deal.
  1. Don’t let the market dictate your decision – Before looking into any kind of investment, it’s important to look at market conditions. However, don’t let the market solely guide your decision. The housing market fluctuates a lot and timing takes a lot of skill and experience and attempting that is very risky.

You may waste a lot of money on rent or just see property prices spike up over the years. As a first-time homeowner, your main goal is to buy a decent property at the best price in a good location. Focus on that.

  1. Make a must-have list – During any major purchase, you need to come up with a must-have feature list. It holds true for your refrigerator and the same goes for your home. For instance, if proximity to good schools is on your must-have list, you can’t compromise on that. However, things like a backyard, bedrooms, and kitchen can be changed and renovated later on.


Mark Roemer Oakland suggests that you have a solid grasp of your finances and check out all the mortgage options and government assistance programs for first-time homebuyers. The above-mentioned tips should be able to smoothen your buying experience.

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