Today we’re back with Nick Street, the branch manager at Mountain West Financial, to go over some important advice for homebuyers. You can check out the first part of our conversation here.

There is a large percentage of first-time buyers in our current market. Nick says that there are many loan programs available for first-time buyers, but some are shrinking and some are changing. What’s available today might not be available tomorrow.

The best thing you can do is meet with a loan officer to go over your specific situation so that you can find the program that is best for you. You still need to have good credit, a job, and verifiable income. Some programs even give you a low down payment option, but keep in mind that it’s always best to have access to some funds when buying a home, as there are definitely costs that come with the transaction.

It’s incredibly important that you find a lender you are comfortable with before you start looking at homes. You need to know what your options are and what your buying power is. Some people start looking at homes in a certain price range only to discover that they cannot afford to buy those homes. That can make the home search process frustrating, as you are constantly comparing the homes you can afford to the homes you want in that other, higher price bracket. Knowing your buying power helps you set realistic expectations for your home search.

“Make sure you talk to a lender before you start looking at homes.”

On the other hand, some buyers may get approved at that higher number but they don’t want to buy in that price range. If you look at your own budget and set a more comfortable number, that is perfectly fine. No one understands your financing better than you do, so it’s really important that you talk to your lender and develop a plan that is based on your wants, needs, and goals.

If you have any other lending questions for Nick, you can reach him at 916-262-7631 or email him at As always, if you have any real estate questions, please don’t hesitate to reach out to us. We would be happy to help you!