First Time Home Buyers - Process | Quad Cities Real Estate
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Buying a home is rewarding, but the process can be challenging. A Mel Foster Co. sales expert can guide you every step of the way and help you make informed decisions. Many agents are experienced in new construction, and Mel Foster Co. is the largest land developer in the region representing over 45 subdivisions.

What will a Mel Foster Co. REALTOR® do for me?

  • Walk you through the pre-approval process and help you determine how much house you can afford.
  • Determine with you what you need in your new home versus what you want.
  • Find and show you homes that meet your search criteria.
  • Help you negotiate with the seller's agent and write your offer.
  • Provide an accurate estimate of your expenses including closing costs and inspections.
  • Perform as your advocate to protect you during financing, negotiations, inspections, contingencies and possession.

Help Iowans Own Their Own Homes - Solving the down payment problem

A dedicated, tax-free savings account program that would allow first-time homebuyers to:
  • Deposit up to $2,000 ($4,000 for couples) of after-tax dollars annually.
  • Receive a state income tax deduction for contributions to the account.
  • Apply the savings in the account and any earned interest toward the purchase or construction of a first home in Iowa.
  • Anyone can make a contribution to these accounts for any individual.

      For more information click here

Rent vs. Buy calculator

Compare your options to rent or buy to determine which choice is right for you here.

The benefits of home ownership

  • Pride in ownership and the ability to customize the home.
  • Great investment.
  • Income tax deduction for your mortgage and property taxes.
  • Capital gains exclusion, if applicable. Talk with your real estate professional to see if you qualify.

Monthly Payments (Principal and Interest Only)

How Much Can I Afford?

This value should be <= 28% for conventional loans, and <= 29% for HUD/FHA loans


This value should be <= 36% for conventional loans, and <= 41% for HUD/FHA loans


Rent vs. Buy