Welcome, First-Time Homebuyers!
Buying your first home is an exciting milestone. Whether you’re just starting to explore your options or ready to make an offer, The Long Island Board of REALTORS® is here to empower you with trusted resources and expert advice to help you achieve your dream of homeownership on Long Island.
You are considered a first-time homebuyer if:
You’ve never owned a home before.
You haven’t owned a home in the past three years.
You’re now a single parent and previously owned a home only with a spouse.
These criteria are defined by the U.S. Department of Housing and Urban Development (HUD), and they open the door to special benefits and programs for first-time buyers.
How to Find the Right REALTOR®
A skilled REALTOR® can make all the difference in your homebuying journey. Here’s how to find the perfect match:
Ask for recommendations. Friends and family might already know a great REALTOR®.
Search for expertise. REALTORS® may specialize in first-time buyers, specific neighborhoods, or amenities like pet-friendly parks. Search for Long Island REALTORS® here.
Interview your options. A good fit is essential. Discuss their experience, services, and how they can help you achieve your goals. Consumer Guide: 10 Questions to Ask a Buyer’s Agent.
Once you’ve chosen a REALTOR®, you’ll sign a written agreement outlining their services and fees. Remember, REALTOR® fees are negotiable, so don’t hesitate to ask questions and customize the terms to fit your needs.
Financing Your First Home
Financing is a critical step, and there are many options to explore:
Loan Types: Conventional, FHA, USDA, and VA loans each have unique benefits and requirements.
Down Payment Assistance: Federal and state programs may be able to assist you in covering your down payment, which is often the most significant step for first-time buyers.
Learn more from our partners at Down Payment Resource®.
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300 Sunrise Hwy, West
Babylon, New York 11704
Phone: (631) 661-4800
© 2024 Long Island Board of Realtors, Inc. All Rights Reserved.
Web Design & Development by Matrix Group International, Inc.
Privacy Policy |
Terms of Use |
DMCA Notice |
Accessibility
300 Sunrise Hwy, West
Babylon, New York 11704
Phone: (631) 661-4800
© 2023 Long Island Board of Realtors, Inc.
All Rights Reserved.
Web Design & Development by
Matrix Group International, Inc.