You’ve decided to buy your first home. What’s next?

You may have more buying power than you think.

Did you know that you may be able to own a home for the same as it costs to rent?  What about buying a home with no down payment?  We have those programs available for you.

Scissortail Financial Home Loans believes buying your first home should be an exciting experience.

You know as a first-time homebuyer that buying a home is one of the largest purchases you will ever make in your lifetime.  We can keep it from becoming an overwhelming one.

Clear instructions, easy steps to follow, and no surprises. That’s what you’re looking for. We want to educate you about the mortgage process, and guide you through to a quick, on time, and hassle-free close.

It's important to understand your rights as a borrower, investigate home loan program options, maintain and build your credit, and know how much you can afford.

There is a lot to learn. You don’t need to be on your own and try to figure it all out by yourself. This is what we do best and we love to help first-time home buyers get the best deal. We want to guide, advise, and help you on your path to homeownership.

When is the right time to buy your first home?

Buying a home may seem like a dream. Whether you’re a recent graduate dealing with student loan debt to a mature adult tired of making the land lord rich, how do you know when the time is right?  More importantly, can you afford it?

The benefits of homeownership are huge. When you’re younger, a home is a long-term investment, and if you stay long enough, it can mean building serious wealth over time. Sell the home at a profit later on, turn it into an income-earning rental property when you’re ready to move up, or enjoy fully paid-off housing during your retirement years.

What are Some Advantages of Homeownership:

• Predicable payments – No more rent increases.
• More control to make the home yours – Modify, renovate, drill as many holes in walls as you want. You can do whatever you like to your home once you own it.
• Equity Appreciation – As the value of your home increases and you pay down the principal balance on your home loan, you will see an increase in your net worth.  Building wealth can happen sooner when you have assets that appreciate.
• Love animals?  – Landlord won’t allow pets or wants to charge a huge pet deposit?  This is nonissue when the house is yours.
• Great credit – Getting a mortgage home loan can help you establish credit history, which can lead to an increase in credit score.
• Tax benefits – Homeownership comes with several tax advantages such as deducting the mortgage interest which could increase your annual refund.
• Privacy – Can you hear your neighbors through the walls of your apartment complex? Then owning a house away for those loud neighbors is for you!
• Pride of Ownership – It’s your home and you worked hard for it.

What should I consider before buying a home?

• Your career- How established are you in your job? Do you expect to be there long or is it a temporary position? Are there any chances of relocation in the near future? Do you have any gaps in your employment?
• Your income- How much do you make? How much of that after-tax income could you afford to put toward a mortgage payment ? Use a mortgage calculator to see how much your mortgage will likely cost, and make sure you’ll have the income to cover that, plus the costs of maintenance/repairs and your regular monthly expenses like utilities, food, phone, car payment and more.
• Your future- Is marriage in your future? Kids or pets? Can you afford a home that will accommodate those changes? You’ll want to make sure a home purchase fits with your future life plans and goals.
• Interest rates- What are mortgage interest rates at right now? Talk to a reputable loan officer if you’re not sure on this one and be sure to shop around and compare rates. They can vary greatly from lender to lender.
• Your local market- What are the housing market conditions in your area? Are home values rising? Are prices still affordable? You want to purchase a home that’s going to improve in value over time, thereby netting you profits. If you’re not sure if a home is a good investment in your city, talk to a local real estate agent for advice.

Ready to buy?

If your goals, the local market, and your finances all align, then it might be time to buy a home.

It’s time to prepare your credit and finances. Then, consult a seasoned mortgage professional who can guide you down the path to buying a home. 

Call us today at 918-495-3773 so we can share what Scissortail Financial does to help first time home buyers. We want to inform you about the first-time home buyer home loan programs we offer that can provide reduced or no down payments and closing costs assistance. FHA, USDA Rural Development, VA, Section 184 Native American Mortgage, and Conventional loan programs are all great for first time home buyers, but which one is best for YOU?

Owning your own home can be easier that you think. We look forward to helping you get the keys to your first home into your hands!