How Homeownership May Be a More Achievable Dream Than You Might Think

Homeownership, without a doubt, is a pivotal step for many seeking to gain control their finances. Many qualified home buyers unfortunately remain unaware how beneficial homeownership can be for them, often under the belief that homeownership cannot yet apply to them. Potential homeowners are often inhibited by a perceived unaffordability in home pricing, low or bad credit scores, a lack of knowledge on the home buying process, and current student loan or credit card debt volume. Without consulting a licensed mortgage advisor though, it is often impossible to truly ascertain one’s ability to purchase a home.

In a recent survey of why qualified millennial home buyers are hesitant to begin the homebuying process, those in the South cited a lack of knowledge on the home buying process as the top reason for failing to begin their home search. This is regrettable, as a lack of information should never prevent someone from at least looking into buying their first home. A wealth of free and reputable information is available online through real estate listing sites including Zillow and Trulia. Angel Oak Home Loans First Time Home Buyer resources center is a useful tool during the home buying process. You can use a home mortgage calculator to get an estimate and breakdown of what home payments might look like and take an in-depth look into the home buying process. You can also research steps to help you pre-qualify for your first mortgage loan.

Real estate agents offer additional guidance to prospective home owners throughout the home search process. Agents negotiate deals, provide referrals, and know the home buying process inside and out, offering an unbiased perspective on various homes. Their job is to help all home buyers make the best decisions possible when looking to purchase a home.

Homeownership is desirable for a number of reasons. People often buy a home out of their desire to invest in the real estate market, start a family, achieve independence from landlords, and pursue the American dream. Homeownership, especially for first time home buyers, is an achievable dream. Angel Oak Home Loans offers young first time homebuyers a number of tailored financial products including FHA loans, jumbo mortgage loans, and to help millennials and first time home buyers make homeownership a reality. Angel Oak Home Loans also guides home buyers through the difficulties of buying a home while offering attractive financial products and numerous online resources.

More and more people are realizing how much more economical buying a home can be than renting. Record low interest rates and government homeownership programs such as the Federal Housing Administration (FHA) mortgage loan program encourage home ownership. The FHA mortgage loan program offers a mortgage loan to first time home buyers with down payment options as low as 3%. This greatly helps the first time home buyers who often ask themselves “should I buy a home?” and “do I have enough money saved up”?

Though home buyers in regions like Georgia, Florida and North Carolina may feel intimidated by the perceived complexities involved in the home buying process, they may also be pleasantly surprised by how simple and enjoyable it all actually is. With a team eager to help and a number of loan offerings and resources available tailored toward first time home buyers, Angel Oak Home Loans seeks to guide you through the home buying process and help you buy the home of your dreams.

Learn more about the Angel Oak Home Loan mortgage programs