Learn About First-Time Homebuyer Advantages

Are You Ready For Home Ownership?

It's the dream for many, yet achieving it should be a satisfying and joyous milestone, underscored by both financial readiness and mental preparedness for the responsibilities it entails. The leap from renting to owning is substantial, more than just the freedom to own pets or choose your wall colors. Yes, these freedoms typically accompany homeownership, but they come alongside the obligations of a mortgage, property taxes, and the ongoing maintenance that a home demands.

Are you ready to buy your own home?

How does your credit score look?

How much income do I need?

What if I have a lot of debt?

Can I buy a house with my sibling?

Can I buy a house if I am self-employed?

Can I buy a house if I just changed jobs?

What if I recently filed for bankruptcy?

What if I only have $2000-$3000?

Can I only buy certain homes with the down payment assistance?

Where do I start?

How much can you afford?

Colorado is an expensive state to purchase a home; however, we can help you navigate the process and utilize various programs. We will help you explore some alternative avenues by which you can buy a home. Maybe it is by utilizing a coborrower, or possibly buying a house in a different location. If you are not ready now, we can help you create a gameplan so you will be ready in the future.

What is your debt-to-income ratio?

Debt-to-income ratio is what drives how much house you will be preapproved for. For FHA lending, banks let you borrow about 50% of what you earn before taxes, while Conventional lending allows you to borrow around 40% of your income. If you have debt (most common debt is auto loans, student loans, and credit cards), it uses up some of that 50% amount you can borrow and lowers your preapproval amount.

What kind of home do you want?

Do you like the idea of cleaning your own gutters? Do you shudder at the thought of lawn care? Would you rather just pay a fee every month and have everything done for you? Would obeying HOA rules bother you? Is a basement a must? Is a garage a must? Does the area allow for pets? How far am I willing to drive? The answers to these questions can help you narrow down the search for the right type of property for you.

We Can Help

You need a good agent. Finding the right home requires not just a keen eye but a dedicated agent who is committed to working tirelessly on your behalf. With Property Prince, our mission is rooted in the belief that everyone deserves to find their own home—one that not only fits their budget but also brings them joy and sets them up for success in real estate ownership. When you choose us to guide you through the purchase of your first home, our first step is to understand your desires and financial capabilities intimately.

New Buyer Education. Starting with a one-hour presentation over Zoom, called the New Buyer Orientation, we will set the new buyer's mind at ease as we traverse through the home purchase process and familiarize you with what future steps you will be taking to close on your own home. As a specialist with first-time homebuyers, we will ensure you are informed every step of the way, especially when it comes to financial matters during the process.

Buyer Assistance programs. We have a deep understanding of various programs that offer down payment assistance, grants, and other forms of financial aid designed to make homeownership more accessible. The eligibility requirements of these programs can vary widely depending on factors like income level, location, and your employment background. By leveraging this knowledge, we can guide first-time buyers through the often complex process of finding and applying for these programs, potentially saving them thousands of dollars and time and helping make the dream of homeownership a reality. The most popular program we utilize allows buyers to need just $1000 out of pocket and a minimal amount for inspection.

Check out our Mortgage Calculator to see how much you can afford!