First-time buyers
Buying your first home can feel overwhelming. This guide walks through each step so you know what to expect in Northeastern Pennsylvania.
Getting started
Before you start touring homes, it helps to take stock of a few basics. These are general guideposts, not requirements.
Lenders look at income and employment stability to gauge what you can borrow.
You'll need funds for a down payment and closing costs, plus a cushion.
Know a comfortable monthly payment before you shop — try the mortgage calculator.
Understanding your credit helps you see which loan options may fit.
A clear path from wondering "can I buy?" to holding the keys.
Look at your income, savings and monthly budget to gauge readiness.
Learn how credit affects loan options and work on improving it if needed.
Get a lender's pre-approval to understand your price range.
Understand how much you'll need and explore assistance options.
Compare programs that may fit first-time buyers with a licensed lender.
Define your must-haves and start touring homes that fit.
Submit an offer and negotiate terms with your agent's guidance.
Learn the home's condition before you commit.
Your lender confirms the home's value for the loan.
Budget for the fees and costs due at closing.
Sign, fund and receive the keys to your first home.
Plan for maintenance, taxes and building equity over time.
This guide is general educational information, not financial or legal advice. References to loan or assistance programs do not represent eligibility; a licensed lender must verify what you qualify for.
Your credit affects the loan options and rates available to you. A few habits can help over time.
First-time buyers often explore these program types with a licensed lender. Availability and terms vary.
Common loans not backed by a government agency; terms vary by lender.
Government-insured loans that can allow lower down payments for eligible buyers.
For eligible veterans and service members, often with favorable terms.
For eligible buyers in qualifying rural areas.
Pennsylvania offers programs for eligible first-time buyers — ask a lender or PHFA.
These are general references only and do not represent an offer or a determination of eligibility. A licensed lender or the relevant agency must verify what you qualify for.
Start browsing homes or reach out with your questions.