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

Reasons Why an Agent Is Invaluable Bankrate Quote

  Choosing the right agent is a big deal. One key thing to look for? A local real estate expert. You want to find someone who knows the area like the back of their hand, including where you're most likely to find the home you're [...]

How Do Presidential Elections Impact the Housing Market?

  Are you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move. Data shows home sales slow in November but quickly bounce back and rise the following [...]

Owning a Home Is the American Dream

Homeownership continues to top the list as a big part of the American Dream. A recent Bankrate survey found that 78% of people rank it above other milestones like retirement and career success. Why? Security and wealth-building. A fixed-rate mortgage keeps expenses stable, and as [...]

Things You’ll Want To Avoid After Applying for a Mortgage

        Just applied for a mortgage? Heads up – there are a few things to avoid to keep your closing smooth: -Don't change bank accounts -Don't apply for new credit or close accounts -Don't make large purchases or transfers -Don't co-sign loans Pro [...]

Real Estate Still Holds the Title of Best Long-Term Investment

With all the headlines circulating about home prices and mortgage rates, you may be asking yourself if it still makes sense to buy a home right now, or if it’s better to keep renting. Here’s some information that could help put your mind at ease by showing that investing in [...]

Housing Market Forecasts for the Rest of the Year

  Wondering what will happen with the housing market in the second half of the year? According to the experts, home prices are set to climb moderately, mortgage rates might dip a little, and home sales are expected to stay steady. Have questions about what [...]

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