First-time home buyers can easily be overwhelmed by the huge amount of sometimes conflicting information they come across. Since buying a home is a major commitment, getting the preliminary research, such as current mortgage rates and narrowing down the neighborhoods you want to live in, out of the way will help you to focus on choosing the home you will live in. Use the following tips to help you come to a decision that will positively impact your financial outlook while becoming a proud first-time homeowner.

1. Tour Different Properties - No matter how much you love that first house you come across, you should never agree to buy a home when you haven't looked at all of your options. Touring multiple homes for sale will give you a good idea of what the average asking price in your area is, as well as what types of amenities you can expect. Use this opportunity to get to meet various real estate agents, which will aid you in better gauging current home buying trends.

2. Compare Mortgage Rates - It's easy to be convinced that you have locked in the lowest rate possible when you are approved for a mortgage with a low APR. In actuality, mortgage companies use multiple variables when they offer home buyers mortgage products, and they will compete to get your business. Consider shopping for pre-approvals with several different mortgages companies to find out mortgage rates and APRs vary among companies.

3. Research Real Estate Agents - Real estate agents can be just as varied as home prices and mortgage rates, so it is in your best interest to vet as many real estate professionals as you can. Explain what your home buying goals are, including your budget, and wait to see how each real estate agent responds. You can either choose to work with a single real estate agent or look at homes on your own until you are ready to make an offer.

4. Put Down More Than The Minimum Down Payment - Both mortgage companies and home sellers are more likely to work with you if you have more than the standard 20% down payment amount available. Offering a larger down payment will result in lower mortgage payments, which will be a big help when you move into your newly purchased home and want to buy furniture or make improvements. Many locales have first-time home buying programs that will add to the amount earnest money buyers want to put down on a home, provided that certain requisites are met.