A first time home buyer is a buyer who has not previously owned their own home. They are generally attractive to home sellers because they do not own a previous home that they must sell in order to be able to buy. There are many factors first time buyer should consider before purchasing their first home, such as how much they will be able to borrow, how much they can afford to pay monthly, and how much initial cash they will need to pay for fees and taxes related to their home purchase.
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