Check your credit.

Before starting your home-buying journey, it is vital to check your credit score. Although timely payment of bills can reflect positively on one's credit, it does not necessarily indicate a perfect credit score. That said, most lenders will require at least a 640 score in order to qualify for a loan. In cases where the score is not yet at that threshold, there are various ways we can help. Whether it be boosting your score to meet the standard or offering loan programs that are not solely reliant on credit scores, we are here to support you every step of the way.

Talk with a lender before you look at the first home.

When it comes to deciding the right loan for you, it is critical that you weigh your options carefully. With the current housing market, sellers are increasingly choosing buyers who have a conventional loan. On the other hand, first time home buyers tend to opt for FHA financing, largely because the qualifying requirements are more accessible.

It is essential that you consider the pros and cons of each option and determine which one is right for you. Conventional loans generally require a higher down payment and have stricter credit score requirements, but you might get a lower interest rate. FHA loans are attractive because of their low down payment and credit score requirements, but the interest rate is typically higher than a conventional loan. Lastly, VA loans offer no down payment and the best interest rate, but you must be eligible for a VA loan.

When deciding between a conventional, FHA, or VA loan, you should take into account your credit score, down payment, and the interest rate you are able to get. Carefully research each option and make sure you understand the terms of each loan before making a decision. Discussing this with a lender can help ensure that you get the best loan for you and your current situation.