First Time Homebuyer Guide - Part 1

Reblogger Gwenn Tanvas
Mortgage and Lending with NEXA Mortgage LLC an Equal Housing Lender NMLS # 1660690 NMLS 274839

Pam has got the "Right Stuff" unfortunately she is in Mississippi - I just love typing that word M I S S I S S I P P I! - I can remember reciting it when I was a small child - I think it was the biggest word I learned to spell at the time..... LOL

If you are looking for a great buyers agent to help you with your Wisconsin property purchase, please contact me and I will get you to an agent who will take care of your every need. Thanks Pam -

Gwenn Tanvas is a Certified Mortgage Planning Specialists who specializes in Credit Restoration and Government Programs such as FHA, State and Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. Her offices are located in Appleton, Oshkosh and Green Bay and offers the convenience of one-stop shopping. or she can also be reached for comment or to answer questions via email at

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Original content by Pam Simpson

First Time Homebuyer Guide - Part 1
by Pam Simpson
Desoto-Tate County Real Estate

Home Buyer's Guide

This guide is designed to help first-time homebuyers better understand the overall process and steps in purchasing a home. 

There will be 6 parts in this series ranging from finding an agent and lender to different loan programs and what to expect at closing.  This first time homebuyers guide is VERY elementary and simple in order to help those buyers who are seeking guidance on where to start their quest for home ownership. 

***If you live an area other than Northwest Mississippi, the process could be a little different.***

  The best guide is your LOCAL REALTOR®.  


 Part 1:  We think buying a home is a good idea, what do we do? (Selecting an agent)

So you've been doing your research on the internet and you have decided that buying a home is right for you.  You have a lot of questions.  What is PITI?  What is the process for buying a home?  How much of a house can we afford?   You may be confused and just want someone to point you in the right direction.Scared Homebuyers

Many first time homebuyers never even get out of the starting gate because they are paralyzed by questions and they don't know where to get answers.  

That is where a good Buyer's Agent comes in.  A great way to find an agent is ask family, friends and co-workers for a recommendation.  Many of them have bought and sold real estate and will know a professional Realtor® who can help you.  The best Realtor® for you is one who is knowledgeable about the area, keeps up with first-time homebuyer incentives, and "clicks" with you as a person. 

You may be wondering if you can just find the house on your own (by looking in magazines, internet, driving around) and then call the listing agent.  Well, you can and in Mississippi a Realtor® can legally represent both the seller and the buyer.  It's called dual agency. 

But, why would you not want someone specifically looking after your best interests (and only your interests)?   Your own buyer's agent will have information about many more homes than you may be able to find on your own.  I am asked by buyers how much I will charge them for my services.  Most of the time, the Buyer's Agent fee is paid from a portion of the seller's agent commission.  I have never charged a buyer client 1 penny for my services.

A good Buyer's Agent will ask you several questions to help pinpoint what type of home you are looking for and to help you find the right lender.  They will want to get a general feel for your likes and dislikes, your general lifestyle and what you wish to accomplish by purchasing a home.

Realtor logoBy the way, an agent and a REALTOR® are not exactly the same.  This can be a bit confusing.  An agent is someone who has passed the state's real estate licensing exam and has been granted a license to sell real estate.  A REALTOR® is an agent who is also a member of the Association of REALTOR®s.  This membership obligates them to abide by a stricter code of ethics.


Part 2 in this series will discuss finding the right lender and loan program.


If you are considering buying a home in Northwest MS, I would be happy to assist you.  I love working with first-time homebuyers.  You have the questions and I have the answers.  Contact me today.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2009 by Pam Simpson.  All rights reserved...***First Time Homebuyer Guide - Part 1***

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFOTate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

REALTOR STUFF:  NAR, Real Estate and Media, Real Estate Agents

OTHER:  Rural Life, Breast Cancer Awareness, Angel Food Ministries, Property Rights, Auctions

 Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.


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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Good post - I think it is a good approach to first time buyers who are frequently clueless!

Aug 19, 2009 02:08 AM #1
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Good stuff....I love this first time homebuyer information.

Aug 19, 2009 02:49 AM #2
Pam Simpson
Bob Leigh & Assoc., LLC - Senatobia, MS
GRI, Broker-Assoc.

Gwen-thanks for the reblog!  I wrote this series because I mainly work with first time homebuyers and noticed the same issues and questions popping up.  Glad you thought it would benefit your readers. 

Aug 19, 2009 07:26 AM #3
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Gwenn Tanvas

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