first-time buyer
Initial home purchaser
A first-time buyer is someone purchasing property—typically a home—who has never owned real estate before.
The term appears frequently in discussions of housing markets and mortgage programs, since first-time buyers often qualify for special incentives or reduced down payments: First-time buyer programs helped us afford the deposit.
Also called first-time homebuyer.
Secured home loan
- downpaymentInitial payment toward purchase
- preapprovalAuthorization before final commitment
- closingFinal stage of something
- escrowConditional third-party deposit
realtor · inspection · appraisal · deed · offer · listing · property · loan
One who lacks experience
- noviceInexperienced newcomer to field
- newbieInexperienced person, informally
- learning curveRate of skill acquisition
- guidanceAdvice for decisions
research · overwhelmed · nervous · questions · mistakes · advice · education · preparation
Accomplished goal or deed
- accomplishmentSuccessful completion of aim
- dreamSleeping mind's narrative
- goalDesired end result
- independenceFreedom from external control
adulthood · pride · excitement · life event · transition · stepping stone · investment · stability
Bestow or award money
- subsidyFinancial assistance from government
- FHA loanFederally insured home financing
- incentiveReward encouraging action
- tax creditDirect reduction of liability
assistance · eligibility · income limit · government program · shared ownership · affordable housing
mortgage
Secured home loan
- downpaymentInitial payment toward purchase
- preapprovalAuthorization before final commitment
- closingFinal stage of something
escrow · realtor · inspection · appraisal · deed · offer · listing · property · loan · interest rate
beginner
One who lacks experience
- noviceInexperienced newcomer to field
- newbieInexperienced person, informally
- learning curveRate of skill acquisition
guidance · research · overwhelmed · nervous · questions · mistakes · advice · education · preparation · uncertainty
achievement
Accomplished goal or deed
- accomplishmentSuccessful completion of aim
- dreamSleeping mind's narrative
- goalDesired end result
independence · adulthood · pride · excitement · life event · transition · stepping stone · investment · stability · commitment
grant
Bestow or award money
- subsidyFinancial assistance from government
- FHA loanFederally insured home financing
- incentiveReward encouraging action
tax credit · assistance · eligibility · income limit · government program · shared ownership · affordable housing
- homeownersmortgage holder, condo owner
- buyerspurchasers, purchaser, homebuyers, shopper, consumer
- Suburbaniteshomeowner, soccer mom, soccer dad, lawn mower, carpooler
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage insurance
- UK Propertyfreehold, leasehold, estate agent, council house, terraced house
- real estate guidesmarket report, investment guide, negotiation tips, moving checklist, floor plans