First-Time Homebuyer FAQs

Buying your first home is one of the most exciting things you’ll ever do, but it’s also a process that’s rife with questions about what to expect, how much you afford, and even whether you’re making the right decision. At The Jana Caudill Team, our Northwest Indiana realtors can answer all of your questions as a first-time homebuyer. Here are some frequently asked questions we often hear—

Is Buying a Home Really a Good Decision?

Many people question whether buying is the right decision, or if they should instead continue renting. While buying vs. renting is a personal choice and the benefits may depend on your situation, in most cases, buying is a smart financial move. Buying a home is an investment. With a home, you can deduct your property taxes and the cost of your mortgage loan, which can save you money. 

What if I Can’t Put 20 Percent Down?

Another common question we hear is about the options for buyers with bad credit or without 20 percent cash to use as a down payment. While these things may make it a bit more challenging to buy a home, it’s important to remember that you can still buy a home even if you have bad credit and even if you don’t have 20 percent down. If you have poor credit, you may be able to buy a home, but with a higher interest rate. If you can’t put 20 percent down, you can still buy your home in most cases, but you’ll have to take out mortgage insurance. 

How Long Will it Take to Buy a Home?

How long it will take to buy a home depends on a number of factors, including how fast you find the home you want to buy! Once you’ve found your home, you can expect it to take between 30-45 days for your lender to approve your loan. If you’re paying cash, you may be able to close in as few as two weeks! 

Do I Really Need to Work with a Realtor?

Many people wonder whether they need to work with a realtor, especially if they already have their budget figured out and know where they want to live. The answer is that it’s always a good idea to work with a realtor! Working with a realtor is strongly recommended, as a realtor will understand the real estate process, can represent your best interests, and will ensure that no mistakes are made that could jeopardize your chances of getting the home of your dreams.

Call Our Realtors Today

To learn more about working with a realtor and the real estate process in Indiana, call our experienced Indiana realtors at The Jana Caudill Team today. We look forward to working with you.


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The Jana Caudill Team delivers unparalleled service to all of our clients with honest representation, communication, attention to detail, and results. Reaching your goals is our number one priority.