A first-time home buyer is an individual who is purchasing a property for the first time. If you're a first-time home buyer, you may be facing a number of unique financial and practical challenges. Here are a few things to consider:

1. Budgeting: Determine how much home you can afford and stick to your budget.

2. Down payment: Decide how much money you can put down on your home and explore options for down payment assistance.

3. Credit score: Review your credit score and work to improve it if necessary.

4. Pre-approval: Get pre-approved for a mortgage loan so you know how much money you can borrow.

5. Home search: Work with a real estate agent to find the right home for your needs and budget.

6. Closing costs: Be aware of closing costs and factor them into your budget.

7. Home inspections: Have the property you're interested in thoroughly inspected before making an offer.

8. Closing: Work with your real estate agent, mortgage lender, and lawyer to close on your home.

Remember to take your time and do your research. Buying a home is a big investment, so it's important to make informed decisions.

Mortgage Authority