Advice for First-Time Erath County Home Buyers

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Beautiful home in Erath CountyAs a first-time home buyer, the entire process can seem daunting. However, educating yourself on the terms, paperwork, types of interest rates and mortgage loans available, will make the home buying process a much smoother one. If you are a first-time home buyer in the Erath area, it is recommended that you take all factors into consideration before purchasing a home. Gathering as much information as you can before you begin the home buying process will benefit you in the long run.

One of the first steps toward purchasing a new home is to obtain a quality mortgage loan. It is imperative to take note of the true cost of the loan rather than just look at the interest rate. Make sure to read the fine print in your contract because many times, a home’s interest rate may only be guaranteed for a short period of time. Do not sign any mortgage contract until you fully understand and inspect the written material in front of you.

Additionally, it is also important for first-time home buyers to factor in additional costs besides the mortgage cost when deciding on a price range for a home. Money that would have otherwise been available for furnishings, home improvements and other essentials may need to go into paying for private mortgage insurance as well as closing costs. The key to reducing these initial costs is to negotiate wisely. Many times, sellers will offer to pay for a part of the closing costs and lenders are also able to negotiate lower closing costs as well.

Finally, it is important for a lender to take into consideration a potential home buyer’s circumstance. Some home buyers may plan to remain in their newly purchased home for decades while others may want to move in a couple of years. Both circumstances require different mortgage plans, and it is important that a lender take that into account.

Looking for an Erath County or Stephenville area home? Please don’t hesitate to give us a call.


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“Eric & Jamie Hayden were great to work with. They are very responsive and know the area well. They have a great team around them that made the process of selling very easy. We were out of state during the sale and they went above and beyond to assist in coordinating with us. Definitely recommend!”