First Time Home Buyers

AAR Funding can help you explore all aspects of home ownership. Discounted rates with lower payments certainly help the first time home buyer in the initial years. It is especially useful for people with low incomes. Discount mortgages are cheaper than the other mortgages.

The first step for getting a loan for the first time home buyer is to get pre-qualified and pre-approved. Pre-qualification is important because the buyer will know exactly the kind of house he can afford. Pre-approval tells the seller that you are a serious buyer and you can meet the mortgage payments. Generally, you can purchase a home with a value of two to three times your annual household income, depending on your savings and debts. However, special loan programs are available for the first time home buyer to help them purchase homes with higher value.