Part 1 of 3 in the First-Time Homebuyer Series
Buying your first home is exciting — but it can also feel overwhelming. Between learning the terminology, comparing loan options, and figuring out how much you can afford, it’s no wonder so many first-time buyers feel uncertain about where to start.
At Redmond Lending, we work with first-time buyers across North Alabama — from Huntsville to Guntersville — and throughout Central Georgia, including Warner Robins, Macon, and Dublin. We understand the questions, the pressure, and the fears that can come with buying your first home — and we’re here to guide you every step of the way.
In this first installment of our three-part series, we’ll walk you through what you should know before starting the homebuying process — and how you can set yourself up for success.
1. Know Your “Why”
Before you look at interest rates or square footage, ask yourself a bigger question:
Why do you want to buy a home?
Maybe you’re tired of paying rent, want to build equity, or need more space for your growing family. Clarifying your goals will help you make smarter financial decisions and stay focused throughout the process.
2. Understand What You Can Afford
One of the most common mistakes first-time buyers make is falling in love with a home before they know what they can realistically afford. It’s important to think beyond the sale price and consider:
- Monthly mortgage payments (principal + interest)
- Property taxes
- Homeowners insurance
- Mortgage insurance (if applicable)
- HOA fees or maintenance costs
- Utilities and lifestyle expenses
Our team can help you build a clear, personalized affordability estimate based on your income, debts, credit profile, and down payment options.
3. Credit Matters — But It’s Not Everything
Your credit score impacts your mortgage rate, loan eligibility, and how much you’ll pay over the life of your loan. That said, a lower credit score doesn’t automatically disqualify you.
At Redmond Lending, we work with borrowers at all credit levels — and if you’re not quite ready, we’ll help you build a path to get there. We can even connect you with trusted credit repair partners for customized support.
4. Get Pre-Approved Early
A mortgage pre-approval is more than just a rate quote — it’s your ticket to shop confidently and make competitive offers. It shows sellers and real estate agents that you’re serious, qualified, and ready to buy.
We recommend starting the pre-approval process before you begin touring homes. It gives you a clearer price range and helps avoid disappointment down the road.
5. You Don’t Need 20% Down
Many first-time buyers think they need a 20% down payment to buy a home — but that’s a myth. There are several loan programs that allow for much lower down payments, including:
- Conventional 3% down
- FHA 3.5% down
- USDA and VA 0% down (for eligible buyers)
- 1% Down Conventional options for qualifying borrowers (Redmond Lending can help determine if you qualify)
We’ll help you explore every option available — including down payment assistance programs in Georgia and Alabama that can help reduce or eliminate upfront costs.
6. Choose a Lender That Works for You
This isn’t just about getting a mortgage — it’s about partnering with someone who will advocate for your success. At Redmond Lending, we take a personal, high-touch approach with every client. That means:
- Walking you through the process step by step
- Offering multiple loan options through our independent brokerage
- Communicating clearly and consistently from day one
- Serving as your lender for life, not just for one transaction
7. We’re Here to Help You Start Strong
Buying your first home doesn’t have to be stressful. When you work with Redmond Lending, you’re not going it alone. We’ll answer your questions, help you understand your options, and put a plan in place that works for your life and budget.
We proudly serve homebuyers in North Alabama, Central Georgia, and throughout the Southeast — and we’re licensed in Alabama, Georgia, Florida, Tennessee, and North Carolina.
✅ Ready to take the first step?
Start your homeownership journey with a lender who’s committed to your success — now and for the future.
Visit redmondlending.com today to schedule your free first-time buyer consultation.