If you’re been keeping up with the Houston real estate market lately, you’ll know that home prices have been steadily increasing for the past year, and that mortgage rates are finally on the rise. If there were ever a time to buy a home, it is now! The sooner you buy, the more money you could save.

As your local real estate team, we are here to offer you first-time buyer tips. If you are gearing up to buy your first home ever, it can seem overwhelming. You may be feeling anxious and fearful. We are here to help! We can answer all of your questions and guide you through each step of the home-buying process.

To help you prepare for the process, here are a few first steps to take:

1. Check your credit. Your credit score is one of the most important factors when applying for a mortgage loan. If your score is lower than recommended, review your credit reports to see if there are any errors to dispute. If you can lower debt, do so. It takes time to improve credit, so start now!

2. Track your spending. It’s important to know how much money you have coming in, and how much is going out. Keep track of your spending for a few months to get a good feel for it. Evaluate assets and liabilities. If you’re self-employed, for example, be ready to prove solid earnings.

3. Organize documents. Having all the necessary documents for a mortgage and a home purchase may be the most daunting task. Start gathering documents early so that you’re ready. This includes pay stubs, W-2’s for the previous two years, tax returns, bank statements and more.

4. Determine a down payment. As a first-time buyer, there are programs that can assist you with this part. Do some research and find out what you may be eligible for. Scrape together your money, and if you don’t have enough, start saving every penny you can! Speak with a lender about your options.

5. Contact an agent. A professional real estate agent can help guide you through all of the tasks of the home-buying process and answer any questions you may have along the way. They can recommend mortgage lenders in the area and get you going on your home search.

When ready to buy your first home, contact us! This is one of the most exciting purchases you will ever make. Allow our team of best real estate agents to ensure that your experience is a positive one. Contact us as soon as you are ready to get serious. We are serious about helping you!