First-time home buying advice

Buying a home will be one the biggest decisions any individual or couple will ever make, especially when it’s your first home.

The good news is that Washington is listed among the Top 10 best states when it comes to first-time home buyer programs, according to HSH.com.

David Devine, senior vice-president of Columbia Bank, said mortgage rates remain historically low and that “it is still a very good time to buy. For first-time home buyers, you want to be as knowledgeable and reasonable as you can when you start the process of finding your dream home.”

Home prices in Seattle have risen more than 12 percent in the last year, according to the Case-Schiller Index. As the economy recovers, mortgage rates have ticked up slightly the past nine months with a 30-year fixed mortgage currently averaging around 4.25 percent.

But before you buy your dream home, Devine said you should know a few things in advance, such as “your credit score, your price range, how much of a down payment you have, closing costs and fees, comps (comparable properties) in the area, and restrictions on certain home loans for first-time home buyers.”