First Time Home Buyers

Information, Tools & Tips

First Time Buyers2021-05-03T13:39:47-04:00

Introducing The Coldwell Banker First Time

HOME BUYERS PROGRAM

A Proven Program Created Specifically To Help First Time Home Buyers
Fishbowl Circle - First time Home Buyer

GETTING STARTED

Every Coldwell Banker home comes with a new mortgage so you can buy it.

As long as you’re a qualified buyer, our affiliate, CB Financial Services has secure mortgage money readily available at near historic low rates.

We will supply a mortgage specialist from CB Financial to help you.

According to a recent independent study* assessing the credit standards of the nation’s lenders, CB Financial Services ranks among the most reliable.

RENTING VS. BUYING

Not sure whether to buy or keep renting? Here are 10 reasons to let Joe Peters of Coldwell Banker help you take the next step:

Build equity

Over time, homes have always gained in value, so you can expect to get your investment back and typically much more when you sell

Lower payments?

It depends on your rent, of course, but if you can afford just 5% down, your monthly payments may actually be less than your rent.

Suiting yourself

When the house is yours, you can fix it up and decorate it any way you want.

In control

You can choose when to move, instead of being pushed out at the end of a lease.

Tax deductions

Save on taxes based on the interest and real estate taxes you pay instead of letting a landlord get the benefit.

Stability

While most landlords raise rents every year, you can choose a fixed-rate mortgage where the payments stay the same.

Receive credit

Money you put down and pay into a mortgage to build equity can be made available to you in the form of a loan or a line of credit.

Community

Most homeowners feel a sense of belonging to their neighborhood and town that they just don’t feel as a renter.

Make it stop

When the term of your mortgage ends, you’ll own your home outright. Paying rent never stops

Personal reasons

You’ll have more privacy and, very likely, more living area. There’s also something very satisfying psychologically to owning your own home.

FREE BUYERS GUIDE!

Download the ultimate guide to buying your new home! The Home Buyers Guide is packed with useful analytics and tips from the industry’s leading experts!

FIRST TIME BUYERS RESOURCES

Joe Peters has compiled news, articles, guides and more to get you into your first house!

Home Purchasing Steps

Buying a home can seem like a frightening prospect. Whether it’s your first home or your fifth, so much is at stake: savings, credit rating, and financial freedom. It is difficult to find the courage to sign on the dotted line even if you want that home quite badly. See the Seven Steps for Home Buying Success.

Home Buying Mistakes

Learn about 8 common mistakes many people make when buying their new home…plus a few extra bonus tips, direct from Joe Peters.

FREE Buyers Guide PDF!

Download the ultimate guide to buying your new home! The Home Buyers Guide is packed with useful analytics and tips from the industry’s leading experts!  Fill out the form to the right and we’ll get the guide right out to you!

Buyers FAQs

How can I check my credit rating before I apply for a mortgage?2020-09-09T12:45:52-04:00

Your credit rating is based on a combined score generated from three credit bureaus that look at your credit history, amount of credit available, and recent inquiries to determine what’s called your FICO score. A smart way to go is to have your Coldwell Banker Associate (or other mortgage professional) check your rating for you and, if appropriate, suggest ways for you to improve your credit.

How many homes should I plan to view and how should I make the final decision?2020-09-09T12:45:38-04:00

Generally you should view a number of homes so you can become familiar with what you can expect to get for your money. When you find a home you really like, it’s a good idea to go back and look at it at a different time of day. This will give you greater insight into what it will be like living in the home full time.

What happens if the house I want to purchase does not appraise at the amount expected?2020-09-09T12:46:09-04:00

If the house doesn’t appraise at the amount expected, other alternatives are typically found. In some situations, a second appraisal may be sought, the buyer may be willing to put more money down, the seller may adjust the price or offer other concessions, or the two sides may negotiate to split the difference between them.

What is the purpose of an attorney review?2020-09-09T12:46:23-04:00

In our area of New Jersey, the real estate agent writes the contract and there is  an attorney review period. This specified period allows the attorney to cancel the contract or request it be altered. Both buyer and seller would then have to agree to the revised contract in writing. In the initial days of the attorney review cycle, either party may void the contract without penalty.

What is title insurance and why do I need it?2020-09-09T12:46:40-04:00

Basically, title insurance assures that you have clear title to the home you’re purchasing. A title search is the primary component of “due diligence,” a process that will be started either by your attorney or by the title company you choose. The title search determines whether the seller actually owns the property and if there are any claims against it.

Why should I consider paying points?2020-09-09T12:46:55-04:00

Buyers often choose to pay a one-time charge called mortgage “points” in exchange for a lower interest rate. Usually paid at closing, each “point” costs 1% of the mortgage amount, or $2,000 on a $200,000 loan. The lower rate reduces the monthly mortgage payment, and points paid in conjunction with the purchase of a home are generally tax-deductible in the year they’re paid (see tax advisor). Monthly savings will often exceed what was paid in points in just a few years’ time.

First Time Buyer Articles

What You Really Need To Know About Home Prices

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re [...]

Myths About the 2024 Housing Market [INFOGRAPHIC]

Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale [...]

Ways To Use Your Tax Refund If You Want To Buy a Home

Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit [...]

Hunterdon County’s Real Estate Market Conditions for April of 2024

Utilizing my extensive knowledge of Hunterdon County, this Market Report covers the current dynamics of our local real estate market. Through my monthly market updates, I navigate you through the economic climate and trends influencing our community's property landscape. This report goes beyond conventional data, [...]

Somerset County’s Real Estate Market Conditions for April of 2024

Utilizing my extensive knowledge of Somerset County, this Market Report covers the current dynamics of our local real estate market. Through my monthly market updates, I navigate you through the economic climate and trends influencing our community's property landscape. This report goes beyond conventional data, [...]

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