UHome Mortgage

🏡 What Every First-Time Homebuyer Should Know Before Starting Their Search

Thinking about buying your first home in Georgia? Hold up—read this first.

Buying a home is one of the biggest financial and emotional decisions you’ll ever make. And if you’re a first-time homebuyer in the Atlanta metro area, the process can feel overwhelming real quick—mortgage terms, down payment options, inspections, interest rates, credit scores, lenders... it’s a lot.

Before you even look at a single property online or schedule your first tour, let me give you the inside scoop so you’re not caught off guard like most people are.

1. Get Preapproved Before You Search

This isn’t just a suggestion—it’s a smart move. Getting preapproved for a mortgage lets you know exactly how much house you can afford and gives you a leg up in competitive markets. Sellers take you more seriously, and you won’t waste time looking at homes that don’t fit your budget.

Pro Tip: Don’t confuse prequalified with preapproved. Prequalification is a quick estimate. Preapproval means a lender has reviewed your finances and issued a letter with your official buying power.

2. Understand Your Full Budget—Not Just the Purchase Price

You may be able to afford a $300,000 home, but can you afford the monthly payment, taxes, insurance, and maintenance that come with it?

Here’s what should go into your real budget:

Mortgage principal + interest

Property taxes (varies by county)

Homeowners insurance

HOA fees (if applicable)

Utilities

Home maintenance fund

Use a realistic monthly budget, not a hopeful one.

3. Don’t Skip Over First-Time Buyer Programs

There are several 100% financing programs and down payment assistance options available to first-time homebuyers in Georgia. Many people think they need 20% down—but that’s simply not true.

Some programs you might qualify for:

FHA Loans (3.5% down)

USDA Loans (0% down in eligible rural/suburban areas)

Conventional 97 Loans (3% down)

Georgia Dream Program

Local grants or forgivable second mortgages

A good lender (like me 👋🏽) will walk you through what’s best for your situation.

4. Know the Hidden Costs of Buying a Home

Besides your down payment, you’ll need to budget for:

Earnest money deposit (1–2% of home price)

Appraisal fees

Home inspection

Closing costs (2–5% of the home price)

You don’t want to get to the finish line and realize you’re short a few thousand dollars. Talk with your lender early about what to expect so you’re not blindsided.

5. Don’t Make Big Financial Changes Before Closing

Once you’re under contract and headed toward closing day—don’t open new credit cards, change jobs, or finance new furniture. Lenders recheck your credit and finances right before closing. Even a small move can delay or kill your deal.

If you're thinking “I’ll buy this couch now since I’ll be moving anyway,” wait. Sit on a folding chair for a few weeks if you have to—trust me.

6. Choose the Right Realtor & Lender for You

You want professionals who understand first-time buyers, not just the market. A good real estate agent will help you find the right home and negotiate smart. A good lender (like yours truly 😎) will make the process clear, simple, and fast.

Final Thoughts: You're Not Just Buying a Home—You're Building a Life

This is more than a transaction. It’s the first step toward generational wealth, stability, and pride. Don’t let misinformation, fear, or bad advice steal that from you.

Whether you’re buying in Atlanta, Lithonia, Marietta, McDonough, or anywhere else in Georgia, I want to help make sure you do it with confidence.

📲 Ready to take the first step?

Click here to schedule a FREE First-Time Homebuyer Call
I’ll break down your options, your budget, and what programs you qualify for—all with no pressure and no jargon.

You got this. And I got you.

BOOK A CONSULTATION

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After this crazy week Ima do a Netflix series called the “Last 48” Cause you would not believe what could go down in the last 48 hours for lenders and realtors on the mission to get to the closing table!

Closing Day with the homegirl Shi Medley - ATL Realtor. Let’s run it back.

Call me at (404) 919-5533 if you are your clients need to be pre approved in Georgia,Missouri or Alabama.(Coming Soon Florida,Maryland,Texas)

Just got a buyer an approval on 5.2% interest rate on a refinance. Yea.. its about to be refi city in my office.

Repeat after me class. “You do not have to be a First Time homebuyer to get an FHA loan.”

When the buyer ghost you 4 days before closing. This Hit Different Different! We were supposed to close tomorrow. 🤦🏾‍♂️

That 0% Down Conv Loan came out a few weeks back and I had a Realtor Partner (Jessica Pegues) that needed for a client she had been working with for 9 Months and together we got it done. See you at the closing table on the 24th.

REALTORS®️In Atlanta if you are looking for a local lender that you can partner with an array of loan products, fast closings, answers the phone and returns you got your calls same day!

Contact Me Today

Coby Pegues
NMLS #2556341

UHome Mortgage
NMLS #2559453

📱 404-375-7791
📧 [email protected]
📍3401 Norman Berry Dr Atlanta GA 30344

I met a contractor at Home Depot in South Atlanta . I told him I am a loan officer. I said I deal with real estate agents and homebuying clients all the time. if you can give me a good price on this new ceiling fan for my daughter and a couple other projects, I will send you endless referrals.

Well, I went downstairs sending out preapprovals.

He said hey buddy I’m done. Im ready to square up the invoice. He says that’ll be $250.

Me: 🤦🏾‍♂️

Don’t listen to the noise about the market being bad and interest rates are being high. I have a Realtor partners they have multiple offers on their listings. I also have other partners that are getting buyers qualified. Be careful who you get your information from. Keep striving, no matter what the market conditions are. The real will survive under any conditions.