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First-time Homebuyers

For first-time homebuyers, the process of buying a house can be exciting and intimidating. At First PREMIER Bank, our mortgage experts can educate and guide you through the process simply, making this one of the most exciting times in your life.

Step 1: Learn about the Process

First-time buyers who have taken a buyer education course have a better understanding of the decisions they’ll need to make, what’s expected of them and what they can expect from their lender. The SDHDA offers homebuyer education courses through the Homeownership Education Resource Organization (HERO).

Step 2: Understand your Finances

Before you set your sights on a home, it’s important to set a realistic, responsible budget. Prepare by carefully looking at your finances, including your savings, income and debt. Contact a First PREMIER Bank mortgage professional to discuss your budget and expectations.

Step 3: Get Pre-approved

Getting pre-approved for a mortgage loan can help you get a step ahead. When the application is complete, our mortgage professionals will go through the process of checking your credit and verifying your information, along with sending the paperwork to local underwriters for a credit decision. Once approved, we’ll provide you with a pre-approval letter.

Step 4: Start Shopping for a Home

Now you’re ready to start looking for your first home. Remember to consider these important factors:

  • Location and neighborhood
  • Type of home (single family, condo, townhome, etc.)
  • Style of home (ranch, bi-level, two-story, etc.)
  • Number of bedrooms and bathrooms
  • Square footage

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