Helpful tips for first-time home buyers

Buying a home is a big step… up there with choosing an engagement ring and buying the family vehicle when the first baby is due. So many thoughts and emotions go into the process, that it can seem daunting. Let’s take a look at two questions our sales team is frequently asked by first-time home buyers. Hopefully, this insight will allow you to enjoy the entire process and treasure the special memories that come with purchasing your first home.

What is the process for buying a new home?

With Betenbough Homes, the steps are simple.

To begin, we need to know what you are qualified to buy, so we can help you choose your home. Usually, a conversation with one of our preferred lenders will give us the proper amount, so we can guide you to homes in your price range.

After you are qualified to buy, we pair you with a sales specialist to discuss the details of the home. The sales specialist will listen to your space needs and explain the variety of floor plans Betenbough Homes offers. They will walk you through selecting a floor plan and homesite.

The sales specialist will go over the agreement with you once your floor plan and homesite have been selected. At this point, the building process begins.

Depending on whether you’re purchasing a quick move-in home or building one, the sales specialist will go over the complete building timeline including pre-construction and frame tour meetings, if applicable, along with orientation and closing dates.

Betenbough Homes prides itself on the experience it gives buyers throughout the entire building process. Click below to watch the My Betenbough Home Website video, this fun clip highlights several of the features offered to further enhance your building experience.

How do I know if I’m qualified?

Our preferred lenders will review your debt-to-income ratio and your credit score to determine if you qualify for a home.

Preferred lenders may ask your current and past salaries, names of current and past employers, current and past address, and recent tax returns.

Currently on FHA home loans, the minimum credit score needed to qualify is 640. If your credit score needs improvement, lenders can provide information and steps on how to increase your score. In many cases, a credit score can be improved in several months.

Still have questions? Please contact a representative at our model homes in Lubbock, Midland or Odessa. We look forward to working with you in the future!

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