Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9

Important Information: We’re here to help, click here for important information on our coronavirus response.

Back
Scroll to top

First Time Buyer?

For most of us, buying a home is the largest purchase we’ll ever make. If you are a first-time homebuyer, you may be asking questions like, “What is a first home mortgage?”

What is a First Home Mortgage?

A first home mortgage is a loan you will use to purchase your first home. These loans can come in a variety of forms, from conventional home loans to FHA loans for first-time homebuyers.

First Bank offers the following mortgage loans* for first-time homebuyers:

  • Conventional Loans
  • Government loans
  • Professional loans
  • Construction loans
  • Jumbo loans

In addition to providing a selection of mortgage opportunities, First Bank also offers a wealth of information about what a first home mortgage is and what can be expected when shopping for your first home.

What is a First Home Mortgage

Tips for Buying Your First Home

Knowing what a first home mortgage is can go a long way toward easing the process of turning that key for the very first time. U.S. News and World Report highlighted some of the most common mistakes first-time home buyers make and how you can avoid them. Among them were:

  • Searching for your dream home before being pre-qualified for a loan. The reality of what a first home mortgage is can be vastly different than what you were hoping for. Take the time to seek out a mortgage loan specialist at a place like First Bank so you can find out what you can afford and what your expected monthly expenses will be.
  • Thinking short-term. First-time buyers are often so focused on moving in that they don’t ever consider moving out. Chances are, you’ll one day be ready to move into another home as you start a family or change jobs. Think about the factors that will affect how you’ll be able to sell your home in five years such as economic growth in the area or neighborhood expansion.
  • Making an emotional decision. It’s important to sign a mortgage paper with your head and not with your heart. You may be overlooking some serious red flags such as expensive repairs, structural damage, or mold simply because you’re in love with the open layout.

Find a First Bank Near You

Ready to get started? Check out First Bank’s guide for first-time homebuyers and find a First Bank near you to speak to one of our loan specialists.


*Loans subject to credit approval.

———

Sources:

U.S. News: http://money.usnews.com/money/blogs/my-money/2013/09/04/5-first-time-homebuyer-mistakes-to-avoid

Trending Topics

What Is a Child Savings Account?

“What is a child savings account?” In a child savings account, you can deposit spare change, birthday money and other loose funds to accrue some interest throughout their childhood. This teaches children...

Best Personal Loans – Florence, SC

What makes for the best personal loan in Florence, SC? Interest rates and other terms aside, it all boils down to which personal loan is best for you. In Florence, SC, First Bank offers a number of different ways to...

What You Need to Open a Business Banking Account

Once you’ve started a business, the money is going to be coming in. You will need a business banking account to keep finances in order and manage cash flow. But, before you head down to your local First Bank,* grab...

Get Maximum Flexibility With a Small Business Credit Card

Many small business owners often find themselves managing their business operations, financials, customer service and more. First Bank wants to lessen your workload with a small business credit card to streamline your...

High Interest Savings Accounts: Save More – First Bank Jacksonville, NC

Thinking about saving for the future? Now is a great time to start. First Bank in Jacksonville, North Carolina has high interest savings account options for everyone, and we offer competitive rates and flexible terms on...

Save Money with This Refinance Calculator for Home Mortgages

When mortgage interest rates are low, homeowners should compare their current mortgage terms with the option of refinancing. By locking in the right rate, homeowners can take advantage of significant savings. Curious to...

Savings Account Interest Rates in North Carolina

Whether you’re saving for retirement or starting a college fund, having the right savings account can help you reach your financial goals. With some of the most competitive savings account interest rates in North...

Best Personal Loan Rates in North Carolina

If you live in North Carolina and are looking for a personal loan, your local First Bank can help. We have over 100 locations in North Carolina that offer highly competitive personal loan rates. We make...

Rental Property Mortgage Rates – Jacksonville, NC

Rental property mortgage rates can vary from bank to bank. In order to be sure you are getting the best rates possible, it is important to use a bank you trust. First Bank in Jacksonville, NC offers some of the best rental...

Open a Free Student Checking Account with First Bank

If you are thinking about opening a checking account while in college, you may be wondering what a no fee student checking account is, and where you can get one. Unexpected expenses can put stress on you financially and...