Welcome, First-Time Homebuyers!
Buying your first home is an exciting milestone. Whether you’re just starting to explore your options or ready to make an offer, Long Island Board of REALTORS® is here to empower you with trusted resources and expert advice to help you achieve your dream of homeownership on Long Island.
You are considered a first-time homebuyer if:
You’ve never owned a home before.
You haven’t owned a home in the past three years.
You’re now a single parent and previously owned a home only with a spouse.
These criteria are defined by the U.S. Department of Housing and Urban Development (HUD), and they open the door to special benefits and programs for first-time buyers.
How to Find the Right REALTOR®
A skilled REALTOR® can make all the difference in your homebuying journey. Here’s how to find the perfect match:
Ask for recommendations. Friends and family might already know a great REALTOR®.
Search for expertise. REALTORS® may specialize in first-time buyers, specific neighborhoods, or amenities like pet-friendly parks. Search for Long Island REALTORS® here.
Interview your options. A good fit is essential. Discuss their experience, services, and how they can help you achieve your goals. Consumer Guide: 10 Questions to Ask a Buyer’s Agent.
Once you’ve chosen a REALTOR®, you’ll sign a written agreement outlining their services and fees. Remember, REALTOR® fees are negotiable, so don’t hesitate to ask questions and customize the terms to fit your needs.
Financing Your First Home
Financing is a critical step, and there are many options to explore:
Loan Types: Conventional, FHA, USDA, and VA loans each have unique benefits and requirements.
Down Payment Assistance: Federal and state programs may be able to assist you in covering your down payment, which is often the most significant step for first-time buyers.
Learn more from our partners at Down Payment Resource®.
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300 Sunrise Hwy, West
Babylon, New York 11704
Phone: (631) 661-4800
© 2025 Long Island Board of Realtors, Inc. All Rights Reserved.
LIBOR’s governing documents, conflict of interest policy and financial statements (including IRS Form 990) are available for inspection during regular business hours upon request by appointment.
Web Design & Development by Matrix Group International, Inc.
Privacy Policy |
Terms of Use |
DMCA Notice |
Accessibility
300 Sunrise Hwy, West
Babylon, New York 11704
Phone: (631) 661-4800
© 2023 Long Island Board of Realtors, Inc.
All Rights Reserved.
Web Design & Development by
Matrix Group International, Inc.