Are You A First-Time Homebuyer?
First-Time Homebuyer Video Resources
First-Time Home Buyer Advice
You can’t know everything there is to know about buying a home, especially when you’re a first-time homebuyer.
How much down payment do I need for a house?
Many first-time homebuyers believe they have to put 20 percent down on a home. But that’s far from true.
Why do people say you need 20% down?
Average down payments are well under 20 percent. So why do so many people say 20 percent down is the minimum.
How to choose a mortgage lender as a first time home buyer
One of the biggest mistakes first-time homebuyers make is not shopping around for a mortgage.
What credit score do you need to buy a house for the first time?
Most loan programs require a credit score of 620 or higher to buy a house for the first time. That includes conventional loans, most VA loans, and USDA loans (which require 640+).
What qualifies you as a first-time buyer?
If you’re buying your first-ever home, you’re a “first-time homebuyer” by default.
Do I need a home inspection?
Some loan types, like the FHA and VA mortgage programs, require a home inspection to make sure the home meets requirements for safety and affordability.
What are points? How do I know if I should buy them or not?
A point is simply 1 percent of the loan amount. If you choose to “buy your rate down,” or pay “discount points,” you will get a lower interest rate.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is an insurance policy that makes homeownership possible for homebuyers who don’t want to make a 20 percent down payment.
If you have questions or are ready to begin the first-time home buying process, just complete the form below, and a member of our team will be in touch shortly!
Buyer Resources
First Time Buyers
Are you a first-time homebuyer? Did you know that if you haven’t owned a property in the last three years that you are considered a first-time homebuyer?
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Making an Offer
Before the offer to purchase is created, you must be at least pre-qualified or, better yet, pre-approved by a lender, unless you are paying cash.
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Offer Accepted: Now What?
Once your offer is accepted by the seller it starts the offer accepted period. You will be asked for a down payment, typically 1% of the purchase price, on the home you are purchasing which will be held with an attorney or settlement company and applied to the final purchase of your property.
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Personalized Home Search
Complete the form below and we'll create you a custom property search. Anytime when we find properties that match your specific criteria we’ll send you an email.
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Thinking about Buying?
Are you thinking about buying? The video resources below cover many of the common questions that most people have during the home buying journey.
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What Are Closing Costs?
You've found your dream home, the seller has accepted your offer, your loan has been approved and you're eager to move into your new home.
View ResourceClient Testimonial
"After looking back at the deal, the negotiations, home inspections, repair request list, helping communicate to lenders, getting us to closing on my dream home, I realized I could not have done this alone.My Realtor, MARCO MELLO became my best friend as he guided me every step of the way. He made sure as we moved forward that I was well informed and that I was in agreement with everything taking place. He truly was my best teammate and a great negotiator. He knew what was around the corner before we approached, anticipating every move and ready to counter professionally"
Yara Monteiro (5-Star Zillow Review)
"All I can say is WOW! We worked with Marco Mello and team to sell our house in Cresthaven, Pompano Beach FL. We chose Marco based on his expertise of our neighborhood and the type of house that is common there, as well as how well-prepared he was for our first meeting, where we came up with a plan together that not only included sale strategy, but how we would communicate throughout. From start to house sold (with money in the bank), took only about six weeks. Communication was excellent during the whole process which was great, especially as we had already moved away. I felt we were always up-to-date, and provided great guidance. We knew exactly what we had to do when and what to expect. Shout out to the title company as well, and accommodations everyone made for us to complete the process remotely. :) "
Penny Parks (5-Star Zillow Review)
"Marco was great, very easy to work with and to the point. He will guide you during the entire process. Very knowledgeable with the market and areas. Excellent customer service. Thank you so much!"
Nader Aouli (5-Star Zillow Review)
"We have worked with Marco twice now, as both buyer and seller. I would never work with another agent EVER. Marco is knowledgeable about the market and a very skilled negotiator. He is also extremely helpful in analyzing the assets and shortcomings of properties and helping his clients arrive at the decision that best suits their goals and needs. If you need a Real Estate agent you will be well served to use Marco."
Eric Bloom (5-Star Google Review)
"We would choose Marco again!! He was very efficient and knowledgeable. He went over and beyond for us. He went out of his way to make everything run smoothly".
Melisa Bloom (5-Star Zillow Review)
After looking back at the deal, the negotiations, home inspections, repair request list, helping communicate to lenders, getting us to closing on my dream home, I realized I could not have done this alone. My Realtor, MARCO MELLO became my best friend he guided me every step of the way. He made sure as we moved forward that I was well informed and that I was in agreement with everything taking place. He truly was my best teammate and a great negotiator. He knew what was around the corner before we approached anticipating every move and ready to counter professionally.
Yara Monteiro (5-Star Google Review)
"Marco listed and sold my house in Ft Lauderdale during my divorce and thru it all, he was neutral and never took sides. He was also very supportive, attentive and a good friend to us both, which was both appreciated and unexpected from a Realtor. He never pushed us and was incredibly patient and when we went under contract he skillfully guided us to closing, while avoiding a lot of “landmines” with everything that was happening with our divorce".
Larry Wolk (5-Star Zillow Review)
"Marco took me through all the steps in buying a home in the USA, Miami. As I am out of the country everything was new and he and his team were able to inform me and advise me of what possibilities I had. Being from out of the country, he assisted me with the entire process of purchasing my home and even after the purchase he helped me with the complete set up from buying furniture to setting the utilities and even little details without myself present. I found him extremely helpfull , honest, polite and responsible. I would strongly recomend him for all buyers and especially overseas buyers who will truly be satisfied and secure with his help."
Marina Odo (5-Star Zillow Review)
I have said it before and I will say it again, Marco is the most excellent realtor I have ever had the pleasure to work with. First of all he puts his clients interests above anything else. If you are selling or buying a property you will not find a more knowledgeable agent. He has sold two properties for us and both times he brokered a deal in the least possible time. He has helped us purchase a property and make sure we where not buying the wrong property nor paying too much for it. If you are either selling or buying a property and if you have Marco as your agent then rest assured you've got the best agent there is.
Darius Shafie (5-Star Zillow Review)
Marco was an excellent professional , I felt secure and confident with him which was fundamental in making my purchase ! As we were out of the country, We looked at various apartment on the Internet and he went and filmed the building and apartment which we thought were interesting !!! This helped a lot ! I recommend him , as well as the people he works with.
Sheryl Attewell (5-Star Zillow Review)
"Efficient , knowledgeable and trustworthy. Marco Mello carefully listened to what we wanted and with his extensive market knowledge, pointed us directly to our best options according to our goals and desires. It only took us one month to choose our best option, sign a purchase contract and close on our home. Marco was referred to us by a very trusted friend of ours who also purchased a property from him with similar results. Marco also introduced us to fantastic attorneys and accountants to properly guide us as foreign investors. Every day that goes by, we realize how fortunate we were with our choice of homes and Realtor! Knowing the right professionals with the proper market and procedure knowledge is the first step in making a great investment and Marco was that and more for us!"
Luciana Barros (5-Star Zillow Review)
"Marco goes above and beyond to help his clients. He does so much more than sell you a house that he becomes a friend you can count on years later whenever you have any needs. Extremely professional and detail-oriented".
Monica Senhorini (5-Star Zillow Review)
"We live in Ct and were considering purchasing a vacation home in the Pompano beach area. Fortunately for us we met Marco Mello. From day one Marco was so kind and helpful. He consistently communicated with us and kept us up to date with the current listings. Marco was very honest and transparent with us from day 1. After 2 trips down to Pompano he contacted me on the 4th of July about a condo in the exact area that we interested in, Because of Marcos deligence we were able to put an offer on the condo soon after it was listed. Marco was with us every step of the way when we came back down to view the property.He was very thorough and also showed us several other similar properties in the area so we could be assured that we were making the right decision. We never felt pressured one time and his professionalism always shined through. Because of Marco we were able to purchase our waterfront dream. He’s not only a great agent but a very sincere person! Thanks Marco!!"
Scott Skidmore (5-Star Zillow Review)
Marco goes above and beyond to help his clients. He does so much more than sell you a house that he becomes a friend you can count on years later whenever you have any needs. Extremely professional and detail-oriented.
Monica Seixas (5-Star Google Review)
I must say if there were more than 5 stars, these guys earned it. Thank you very very much for your time, effort, generosity, kindness, patience, empathy my husband and I want you to know we really appreciate you guys. Anyone out there looking to purchase, please trust me on this, these guys are the right person for the job, we are now homeowners in Margate Florida Thanks to them.
"Marco performed an excellent job, since the beginning helping to find the adequate house for my purpose, providing banking , attorney recommendations till the closing. I do recommend his and his team assistance".
Fabio Moraes (5-Star Zillow Review)
He was awesome! Went over and above what others had done! Explained everything. Highly recommend Marco Mello 10+++++++Verified by RateMyAgent
