First Time Homebuyer

We Can Help Guide You There

We understand the purchase of a new home is one of the biggest decisions you can make, which is exactly why our loan officer professionals will be there every step of the way. We can answer all of your questions and concerns thoroughly and in a timely manner. No question is out of the question, as it is our job to help you fully understand the mortgage process. We’re excited to start the journey of home-buying with you and your family!

Hear What People Have To Say!

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Marlicia J.

The loan officer and processor were very professional, courteous & reliable. Even when I was ready to give up (for lack of knowledge of the process) they both supported me and kept me focused. I could not have done it without them!!

New Castle, DE

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Christopher C.

We were completely satisfied with the entire process.

Panama City, FL

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Kevin and Patricia M.

Professionals who know their business process. Thanks so much for your help, great job!

Tappahannock, VA

Why Rent When You Can Buy?

Congrats, you’ve decided you’re ready to make an amazing decision of buying your first home! While exciting it can be a little scary, but have no fear we will help you throughout this entire process. We’ve got some myths of homebuying that we need to tell you are not true!  
  • You’ll Need a 20% Down Payment - If you’ve done any research from any of the major lending institutions, you’ve likely discovered that you are required to have a 20% down payment for your mortgage. In reality, however, there are certain lenders and mortgages require as little as 5% down, and some government-based mortgage instruments require no down payment whatsoever.
  • You Need Perfect Credit - While credit has its place in the mortgage application process, many other factors such as income, existing assets, bills and payments, and personal savings play a huge role in your mortgage application. Basically, there’s still a mortgage solution out there for you even if your credit doesn’t set the world on fire.
  • Getting A Mortgage Takes A Long Time - Depending on where you go for your mortgage this can hold true, but in today’s digital age, getting a mortgage shouldn’t cost you precious time. As a matter of fact, the team at Tidewater Mortgage Services can get you pre-qualified the same day you apply which can drastically decrease the time you spend getting a mortgage and give you more time to plan your new life in a new home.

Next Steps To Do & Don't

Buying a home comes with some (seriously exciting) considerations. While purchasing a new home can tickle your most excitable emotions, it’s important to remember that buying a home is serious business and there are certain things you should do and certain things to avoid along your homebuying adventure.
  • Get all of your ducks in a row as homebuying will likely include all of your personal financial endeavors.
  • Be prepared for your down payment as well as closing costs associated with your new home.
  • Be realistic when shopping for a home, a mistake many first-time homebuyers tend to make is having their heart set on a certain home, keep open minded and aware of the realistic approach.
  • While getting a mortgage might not be difficult, finding the right option can be a little challenging. Do your research and get some ideas on what mortgages are available for you and how to qualify for certain programs.
  • As you go through the process of procuring financings for your new home, every financial move you make will be watched heavily by both credit reporting agencies and your lender. It’s important to realize that while you’re securing your loan you should avoid furnishing your new home, buying a new car, or trying to add more to their expanding world.
  • Along with not applying for new credit, don’t make any drastic life changes. Your financing hangs in a delicate balance of being mutually exclusive and dependent on your current financial situation including your job and even your possessions.
  • Being prepared can make your meeting with a loan officer that much smoother if you know what you want, but you’ll certainly need to get in touch with one of our loan options!

Upfront Info Needed

 Download the Upfront Info Checklist so you know what to bring to get prequalified!
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