If you’re in the market for your first home, the process can feel overwhelming — so many questions to answer, services to purchase, and options to consider. If you’re just getting started, take a deep breath and relax: here are some tips to help you navigate the homebuying process and reduce your stress.

• Determine your budget Many online tools are available to calculate a monthly mortgage payment for you for free. It’s also a good idea to check your credit score since that often determines what kind of interest rates you’ll qualify for when you apply. Don’t forget to account for additional costs beyond the monthly mortgage payment, like the down payment, real estate agent fees, closing costs, and moving expenses. After determining your budget, you can reach out to a mortgage lender for a pre-qualification letter, which will estimate how much you can afford and how much the lender would be willing to lend you.
• Find the right real estate agent Selecting the right real estate agent can help you find the home you want at a price you can afford. Your agent should be an advocate and an ally for you as you navigate the homebuying process. Look for online reviews and talk to friends, family, and neighbors to find a trusted individual who knows the community well and can serve as your guide.
• Research first-time buyer assistance opportunities Many states offer financial incentives to make it easier for first-time home buyers. These programs may offer lower interest rates on loans, assistance with down payments or closing costs, or tax credits. In Ohio, the Ohio Homebuyer Plus Savings Plan offers a special high-interest savings account to be used specifically for a down payment or closing costs. The Federal Home Loan Mortgage Corp., better known as “Freddie Mac,” works with lenders around the country to make housing more accessible and affordable. Freddie Mac’s "Home Possible" program offers more options and credit flexibility to help qualified borrowers with a down payment as low as 3%.
• Consider a home inspection Before you purchase a home, it’s a good idea to get the home inspected by a professional. They can find issues with the house that you might not have otherwise discovered, allowing you to ask the seller to fix the problem before you purchase the house, take the costs of repairs off the final selling price, or even decide not to purchase the home if the problems are too severe. A home inspection can also identify future costs related to home repair, such as replacing a hot water heater or putting on a new roof.
• Talk to Mortgage Professionals Buying your first home is one of the biggest — and most complicated — financial decisions you will make. Part of that process should be talking with a mortgage professional who can identify additional issues to consider, in addition to helping organize your finances. If you believe you’re ready to become a homeowner, contact a Cinfed mortgage professional to get the process started today. Cinfed’s mortgage originators are not commission based, so they can focus on meeting your needs. Call 513-333-6337 or email [email protected].