When deciding between renting vs. buying, you need to consider your lifestyle and finances. although renting can provide a lot more flexibility, owning a home has advantages and allow you to build equity in the property, some advantages to owning a home include favorable tax benefits.

Somethings you should consider when preparing to buy your first home include:

• Start monitoring your credit score
• Take advantage of our affordability calculator to see how much home you can afford
• Start saving money for a down payment
• Consider and save for additional home buying costs (inspections, insurance, deposits, etc.)
• Speak to a loan officer at First Alliance Home Mortgage to get prequalified for a mortgage loan
• Consider working with a real estate agent that has a relationship with a first alliance home mortgage loan officer to make the process smother

A prequalification is a good idea when considering buying a home, it gives you an estimate of how much you can borrow based on your income, employment, credit and bank account information. Consult with a First Alliance Home Mortgage loan officer and start looking at loan options that are tailored to your needs. Get prequalified with First Alliance Home Mortgage!

Whether you're looking for a single-family home or an apartment, understanding your needs and wants is essential. Consider what you want out of a home, determining your housing budget is important. Work up a housing budget, decide how much you'll be comfortable paying each month. Work with your real estate agent to start looking for the right home based on all of these factors.

Purchasing a home is a major decision, interview real estate agents and find one that's best for you. An experienced real estate agent with a relationship with an experienced loan officer can make your homebuying process a smooth one by helping you find the right house and negotiating the right price and securing the right home loan.

At First Alliance Home Mortgage, an experienced loan officer can help tailor and recommend several home loan options to finance your home purchase. A loan officer will walk you through the process and help you understand the differences between the various loan options so you find one that best suits your financial situation.

Our mortgage calculators were created to help you discover how much home you can afford.

Home purchase down payments vary depending on the home loan that’s best for you and the home. In fact, most first-time home buyers are surprised to learn that many home loan require as little as 3.0% down. It’s important to consult with a First Alliance Home Mortgage Loan officer, with many loan home loans, many can be tailored to fit your needs and financial resources. Something to consider is that down payments of less than 20% on conventional loans, private mortgage insurance (PMI) will be required.

Traditional home loans normally require documents that verify your employment, income and assets, and may include:

• Your Social Security numbers
• Pay stubs for the last two months
• W-2 forms for the past two years
• Bank statements for the past two months
• Two years of federal tax returns
• Information on current debt, including car loans, student loans and credit cards

Every First Alliance Home Mortgage Loan officer listing includes their location, NMLS ID#, phone number, and a link to their profile page. Each First Alliance Home Mortgage Loan officer profile page will tell you how many years of experience they have, full contact information, and, oftentimes, a short bio. This information will give you a good sense of each loan officer so you can easily make your decision.