Questions From a First Time House Buyer

Seller just builds agents into the price. You absolutely pay for it.

Do you have a 20% down payment? Many condos don't accept FHA loans, only conventional. It's basically a legal form of discrimination. I bought a condo in Memphis for 112,900, everything went very smoothly for me. Had an agent who knew the ropes.

My parents sold their house with an inexperienced friend and it was a huge mistake, find someone who knows what they are doing. Mine got all sorts of closing costs and stipulations built in that saved me a ton.

Yes, I have 20% down without any problems. I am unfamiliar with FHA loans vs. conventional loans I'm afraid.

Resell on condos is typically not as good as a traditional house

Depending on the type of mortgage that's most appropriate for you, it's likely that a credit union can offer a competitive rate AND take the time to patiently walk you through the process. I'm not saying that a bank wouldn't be of help. It's just that there's a huge amount of customer service variation in banking these days. But you don't have to go with the first person that you sit down with.

Do you know what your credit score is? Don't tell me. I'm just saying that's a number that will, along with your debt to income ratio and down payment amount, be a very important factor in determining your rate and ease in qualifying for a mortgage.

It's your first home. There are no terrible noob questions. The people who don't ask, or who make incorrect assumptions, are the ones who typically get burned the worst.

Texas here .

Did a conventional 30 year with 10% down and PMI dropping once I hit 20% . First house , $200k .

House was listed less than three days , and had full asking offers before we looked at it . We wrote a nice letter on why we wanted the house and that along with having guaranteed approval
Letter from my lender sealed it.

Do research and find confirmed referrals on a good realtor .. makes a big difference when looking for house . My realtor was referred to by a family member and she was horrible . I can't stress this enough . Our realtor was always late housing appointments and was always saying she had to bring her daughter to certain places before she could meet us . It was like I was a chore . I'm not sure on the housing market in Louisiana , but here in houston anything under 250k are being bought cash by investors .

Remember your first house doesn't have to be "perfect" , but you should be happy with it .

Oh ! , find out about your neighbors .. drive the neighborhood at night to see how busy , loud , noisy it is . May sound creepy , but you don't want neighbors with dogs barking at night , house parties etc.

Good luck !

Think ahead. Where do you want to be? Where development has room to expand. Where is the culture you appreciate? Do you want kids? Are you married?

You need to provide more input and background before I would recommend where in specific but Baton Rouge will easily provide the highest cost of living.

You will buy far more home and amenities for your money in Ascension and Livingston than you will in Baton Rouge. The financing options in each of the aforementioned parishes are superior to that of options inside BR proper also.

With interest rates making it so inviting to finance as much of your home's purchase price as possible, and the programs like USDA Rural Development give you such a commanding position to finance based off of appraised value as opposed to the sale price like most conventional financing, I'd suggest Livingston or Ascension Parish as a long term investment.

But you need to determine the kinds of things that are important to you personally. Does your future include a wife, kids, etc? Give us more info...

Condos are a lot harder to sell later because of the stricter lending rules.

Look for a townhouse instead of a condo.

Condo vs townhouse, what's the main difference?