Buy Your First Home in Tampa
Even if You Don't Know Where to Start!
There's a lot that goes into buying a home. Getting approved for a loan, finding and visiting homes for sale, making an offer, getting a home inspection and appraisal... not to mention signing all that closing paperwork! If you're new to the process it might even seem a little intimidating. But don't worry; we're here to assure you it doesn't have to be complicated or stressful. When you partner with an experienced local real estate team like Inside Tampa Homes, we'll make sure you're taken care of and your questions are answered every step along the way. That way, you'll be sure to find the home of your dreams!
So, just what does buying a home entail? Here's your one-stop guide to buying your first home, from start to close. Still have questions or ready to get started? Contact us at any time!
Types of Mortgages
Don't worry if you don't have a 20% down payment or perfect credit; there are dozens and dozens of loan options out there, so it's far from a one-size-fits-all formula! Here are some fairly common types of loans used by first time home buyers in the Tampa area.
What Do Mortgages Include?
Every month, you'll pay your mortgage, just like you probably pay rent now. But what exactly does that payment include? Hint: it's more than just the repayment of your house. Here's the breakdown.
Going Loan Shopping & Getting Prequalified
Okay, so you know a little more about your mortgage options. Now what? Home shopping? Not quite. Before you start looking at homes, you'll probably want to sit down and talk with a couple of lenders to get a more solid idea of what your loan options are, what your monthly payments might look like—and whether you'll qualify for a loan at all. Here's how to get started.
Part 2: Finding Home
Once you're prequalified, the fun part begins: home shopping! Now's the time to think about just what you want in a home, do a little online searching, and schedule some showings with your friendly neighborhood real estate agent.
Offer, Negotiate & Sign
Got a price? Good. Now you and your agent will craft a Purchase and Sale Agreement, which will have all the details of your sale laid out in writing.
Part 4: Closing the Sale
After you and the seller work out all the details, you'll start working closely with your lender to finalize your loan. During this time, the home will likely be appraised, and a closing date will be set by a real estate attorney.
The Final Steps
This is the paperwork process. For you, it means a lot of signing and submitting, and it can be a little tedious, but you'll get through it!
Ready to Buy Your First Home in Tampa Bay?
It all begins with finding the right real estate team. Want to know more about how Inside Tampa Homes can help you become a successful first time home buyer? Check out our real estate resources, or just give us a call and we'd be happy to chat with you directly.