First-Time Homebuyer Guide: Everything You Need to Know Before Applying for a Mortgage in FL, GA, NC, TN, and AL

Jordyn Divver
Mar 26
2 min read

Buying your first home is exciting — but the mortgage process can feel overwhelming if you’re not sure where to start. Whether you’re planning to buy in Florida, Georgia, North Carolina, Tennessee, or Alabama, understanding the steps to homeownership will help you feel confident from day one.

Step 1: Know What You Can Afford

Before you start searching for homes, it’s important to know your budget. A good rule of thumb is to keep your total monthly mortgage payment — including taxes and insurance — around 28-30% of your gross monthly income.

Factors to consider:✅ Monthly income✅ Current debts (student loans, car payments, credit cards)✅ Savings for your down payment and closing costs✅ Your credit score

Pro Tip: Property taxes, insurance costs, and home prices can vary greatly between Florida’s coastlines, Georgia’s suburbs, or North Carolina’s mountains — so it’s essential to factor location into your budget.

Step 2: Understand Your Loan Options

There are several loan programs designed for first-time homebuyers, each with different requirements:

Conventional Loans – Ideal for buyers with solid credit and down payment
FHA Loans – Low down payment and credit score flexibility
VA Loans – $0 down payment for eligible veterans and military families
USDA Loans – No down payment for rural areas

Choosing the right loan type depends on your financial situation, home location, and long-term plans.

Step 3: Get Pre-Approved for a Mortgage

Pre-approval strengthens your offer — especially in competitive markets! A lender (Hello!) reviews your income, assets, credit, and debts to determine how much you can borrow. You’ll receive a pre-approval letter, which helps you shop with confidence.

Step 4: Prepare for Closing Costs

Many first-time buyers focus on the down payment but forget about closing costs — which typically range from 2-3% of the home price. Your lender (Hi!!) will provide an estimate upfront, so there are no surprises.

Step 5: Avoid Common Mistakes

✅ Don’t open new credit accounts or make large purchases before closing

✅ Communicate openly with your lender about your finances

✅ Know that mortgage rates change — ask your lender about locking in a favorable rate

Step 6: Trust Your Team

Purchasing a home is a big step — but you don’t have to do it alone. Work with an experienced loan officer, a trusted real estate agent, and a home inspector. We’re here to guide you through the process!

Final Thoughts

Owning your first home is a major milestone — and the right team makes all the difference. From getting pre-approved to closing day, we’ll walk you through every step.

Ready to start your homeownership journey in FL, GA, NC, TN, or AL? Contact me today for a free pre-approval consultation!