First-Time Homebuyer Tips in Queens & Long Island

Fix These 3 Things First

Most people think buying a home is just about finding the right property…

But before you start house hunting, you need to prepare financially. The truth is, sellers and lenders look at your numbers before they ever look at your dream home.

Before you buy a home in Queens or Long Island, make sure your credit score, down payment, and closing costs are ready. Watch the full breakdown here.

If you’re planning to buy in Queens or Long Island, here are the 3 things you need to fix first ✅

1️⃣ Your Credit Score Matters More Than You Think

Your credit score determines:

• If you qualify

• What loan programs you’re eligible for

• Your interest rate

• Your monthly payment

Here’s a general breakdown:

✔ FHA Loans: 580+

✔ Conventional Loans: 620+

✔ No-Income-Check / Non-QM Options: 700+

The higher your score, the better your terms. Even a 20–40 point increase could save you thousands over the life of your loan.

Pro Tip: Don’t apply for new credit, finance a car, or run up credit cards while preparing to buy.

2️⃣ Plan for Your Down Payment

Many buyers think they need 20% down. That’s not true.

Most programs require:

✔ 3–5% down(Some programs may require more depending on your financial scenario.)

There are also first-time buyer programs that may offer assistance. Explore our available mortgage loan programs to see which option fits your financial situation. The key is understanding what option fits your income, credit, and long-term goals.

3️⃣ Don’t Forget Closing Costs

This is the number most buyers forget to plan for.

Closing costs are typically:

✔ 3–5% of the purchase price

These costs include:

• Government recording fees

• Title fees

• Lender and third-party transaction costs

Proper planning avoids last-minute stress before closing.

Why You Should Build a Game Plan Before You Shop 🏡

Scrolling Zillow is exciting. Getting pre-approved the right way is powerful.

When you build a strategy first, you:

• Shop with confidence

• Know your true budget

• Strengthen your offer

• Avoid unnecessary credit damage

Before you start house hunting, understand what you can realistically afford. Use our home affordability guide to estimate your buying power and monthly payment before you shop.

If you’re thinking about buying in Queens or Long Island, let’s create a clear, personalized plan before you start looking.

Before you buy a home in Queens or Long Island, make sure your credit score, down payment, and closing costs are ready. Watch the full breakdown here.

Let’s Talk About Your Options

LJ Mortgage Team Inc. Your Local Guide to Homeownership

📍 127-03 Rockaway Blvd South Ozone Park, NY 11420

📞 (516) 218-1297

Purchase & Refinance

About LJ Mortgage Team Inc.

LJ Mortgage Team Inc.NMLS #2120286www.nmlsconsumeraccess.org

NYS Registered Mortgage Broker, NYS Department of Financial Services.Broker arranges mortgage loans with third-party providers.

MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER.

Licensed by the N.J. Department of Banking and Insurance. We arrange loans with third-party providers. We do not make mortgage loan commitments or fund mortgage loans.

LJ Realty Team

Buy • Sell • RentEqual Housing Opportunity