You're Ready to Adult? Let's Find You a House in Raleigh!

So, you're thinking about buying your first home in Raleigh, North Carolina? Congratulations! You've officially entered the part of your life where you trade weekend adventures for discussions about interest rates and property taxes. Don't worry, it's not as terrifying as it sounds. It’s more like a very expensive, very confusing scavenger hunt.

You've probably heard that you need a 20% down payment to buy a house, and when you consider the price of homes in Raleigh, it's a number so large it makes you want to crawl under the covers and cry. Let's just say that number is a myth, a phantom of the real estate past. You don't need to sell a kidney (or two) to buy a house. There are a bunch of programs out there to help you.

The Credit Score: Your Real Estate Report Card

First, let's talk about your credit score. Think of this as your financial GPA. A good score means you get to sit at the cool table of home loans. A less-than-perfect score? Well, you might have to do some extra credit, but you're not getting a failing grade. It just means you might need to bring a bigger metaphorical down payment.

The Alphabet Soup of Home Loans

Now, for the fun part: the programs! It's an alphabet soup of acronyms that will make you feel like you're back in middle school trying to memorize the periodic table.

• FHA, VA, and USDA Loans: These are the cool, laid-back loans. FHA loans are for anyone who needs a little help, VA loans are for our military heroes, and USDA loans are for people who want to live in the kind of places where you can't get decent pizza delivery.

• Conventional Loans: These are the no-frills, low-down-payment option. It’s like the sensible sedan of loans: reliable, gets you where you need to go, and doesn't require you to be a financial genius.

• NC Home Advantage Mortgage: This one is a state-specific superhero. It's an extra-special low-interest loan that can also come with a down payment and closing costs assistance. It’s like finding out your car has a turbo button you never knew about.

More Than Just a Mortgage: The Secret Life of a Homeowner

But wait, there's more! You'll also may have to deal with things like HOA fees, which are like a monthly subscription for someone to complain about your lawn, and property taxes, which are basically the city’s way of saying, "Thanks for buying that house, now give us some more money every year!" And don't forget insurance. You're basically paying a company to promise they'll save you if your house decides to spontaneously combust.

Navigating this all can feel like trying to build an IKEA dresser with no instructions. But don't worry, you don't have to do it alone.  Anthem Properties works with some incredible lenders that can help coach and guide you along the process.  We've seen them do some incredible things for our clients so we're happy to put you in touch with one of these experts right away.  Lots of home in the Triangle require pre-qualification before submitting an offer so it's good to get ahead of that now. And these lenders can help you better understand what you can truly afford... they'll look past the price of the house and focus more on your monthly payment. You may be able to afford a whole lot more than you thought!  So let us help you find your dream home in the City of Oaks, and maybe even share a few tips on where to get the best BBQ. Happy house hunting!