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First time Home-Buyer Resources

Your Ultimate First Time Home-Buyer Resource Hub

A Collection of Resources for Chicago First Time Home-Buyers

Ready to buy your first home but not sure where to start? Dive into our curated collection of essential resources for new home-buyers. From our growing list of first time home-buyer grants in Chicago to first time home-buyer education, this page is packed with information to help you get started on your real estate journey.

Chicago Home-Buyer Programs

National Home-Buyer Resources

Get Your Free Home-Buying Guide

Schedule a personalized home-buying consultation today, and one of our agents will work 1-on-1 with you to develop a plan tailored to your unique needs. Along with your buyer consultation, you’ll receive a complimentary Home-Buying Guide— outlining how to buy a home in 10 steps.

First Time Home-Buyer Frequently Asked Questions

1. What steps should I take as a first time home-buyer?

Answer: As a first-time home-buyer, start by assessing your financial situation, getting pre-approved for a mortgage, and setting a realistic budget. Research neighborhoods, attend open houses, and consider working with a real estate agent to guide you through the process.

2. How does the home-buying process work?

Answer: The home-buying process involves several steps, including pre-approval, house hunting, making an offer, home inspection, and closing. Click here for an outline of the home-buying process, or schedule a free buyer consultation with an Ani Real Estate agent for more information.

3. What is the importance of getting pre-approved for a mortgage?

Answer: Getting pre-approved for a mortgage helps you understand your budget, strengthens your negotiating position, and demonstrates to sellers that you are a serious buyer. It streamlines the home-buying process and allows you to act quickly when you find the right property.

4. Are there any first-time home-buyer assistance programs available?

Answer: Yes, various national and local Chicago home-buyer grants and programs offer assistance to first-time home-buyers, providing down payment assistance, reduced interest rates, or tax credits. There are several links to first time home-buyer grants and programs above. Your Ani Real Estate agent and mortgage lender are great resources as well.

5. What are closing costs and how much should I budget for them?

Answer: Closing costs typically range from 2% to 5% of the home’s purchase price. They include fees for appraisal, title insurance, attorney services, and more. Work closely with your real estate agent and lender to estimate and plan for these costs.

6. What’s the significance of a home inspection?

Answer: A home inspection is crucial as it identifies potential issues with the property. It gives you the opportunity to negotiate repairs or a lower price with the seller. Always include a contingency for a professional home inspection in your purchase agreement.

7. How can I improve my credit score before buying a home?

Answer: To improve your credit score, pay bills on time, reduce outstanding debts, and avoid opening new lines of credit. Check your credit report for errors and work on rectifying them. A higher credit score can result in better mortgage rates.

8. I’m ready to buy a new home in Chicago! Where do I start?

Answer: The best place to start is with the experts. Schedule a free home-buying consultation with a knowledgeable Ani Real Estate agent. Our agents are experts at explaining the buying process, connecting you with helpful resources, and mapping out a plan tailored to your specific needs