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First Time Home Buyer's Guide
Buying a home for the first time is easy with Weichert, Realtors® –
Frankel & Giles.
Download our "From Contract to Closing" First Time Home Buyer's guide (pdf)
Step 1: Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. Our agents can help you determine
Step 2: Know your rights
You have the right to buy any home you can afford in any neighborhood. The Fair Housing Act gives you the right to own or rent a house or apartment without discrimination. You also have a right to fair lending and consumer protection when dealing with mortgages. Our agents ensure you are well aware of all your rights before you make your purchase.
Step 3: Shop for a loan
Save money by doing your homework. Compare costs and interest rates from multiple lenders and you can always negotiate to get a better deal. Our agents will help you work with our Preferred Lenders to help you get the loan that’s right for you.
Step 4: Shop for a home
Our agents will help you find the best options that fit your search criteria and your budget. We’ll help you compare properties so you can be sure you are making the right choice.
Step 5: Make an offer
Your Weichert, Realtors® – Frankel & Giles real estate agent will walk you through the process of making an offer and will guide through negotiations if your offer is countered.
Step 6: Get a home inspection
Your offer should be contingent on a home inspection. You’ll learn about the condition of a home from an inspection so you don’t end up buying a home that needs major repairs.
Step 7: Shop for homeowners insurance
The price for homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. Your agent will help you find the right provider to get the lowest price.
Step 8: Sign papers
You're finally ready to go to "settlement" or "closing." Make sure you read everything before you sign!
More questions about buying your first home?
Call us at 312-225-9700
Complete our online form
Visit our Sales Office at 1530 S. State St., 1st floor
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Frankel & Giles has been the South Loop’s leading real estate company and firm since 1996. Weichert, Realtors® is the largest privately owned real estate company in the U.S. The two entities joined forces in January 2009, combining local Chicago real estate expertise with national reputation on behalf of our clients.
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