Skip to main content
FDIC-Insured logo
FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Buying For the First Time? Avoid These Mistakes

By: Old Point National Bank / 26 Jul 2019
Buying For the First Time? Avoid These Mistakes

First-time homebuyers might be more prone to making mistakes. To make the homebuying process more smooth, follow these tips to help avoid costly mistakes.

Shop Around For a Mortgage
Many buyers apply to just one lender. However, shopping around can save you money, particularly in interest.

Put Less Down
It's possible to close a deal putting down less than 20%, especially if you have good credit. But remember, your payments will be higher the less you put down.

Be Willing to Compromise
You won't find everything you want in a home. Identify your top priorities and be willing to give up other priorities.

Realize the Process Will Be Emotional
Knowing you're going to have huge emotional ups and downs before going into the process allows you to weather them more easily.

Find more items

Share
Leaving Site

You are now leaving the oldpoint.com website

The link you clicked will take you to a third-party website. We do not control the content of this site, nor do we endorse or guarantee the products, information or recommendations provided by the linked site, Please review their Privacy Policy as it may differ from ours. The linked third-party website may provide less security than the bank's website.
Notice

You are entering the Old Point Wealth Management website

As of September 1, Old Point Wealth Management became a Towne Family Company. For information regarding retirement plans for yourself or your business, please visit Towne Wealth Management. For help with your investments, please reach out to your broker or find your nearest broker at our Newport News or Williamsburg office.
Notice

You are entering the Towne Insurance website

As of September 1, Old Point National Bank became a division of TowneBank. We recommend considering Towne Insurance as your trusted partner. Insurance products are not insured by the FDIC, are not deposits, and may lose value.
Notice

You are entering the TowneBank Mortgage website

As of September 1, Old Point National Bank became a division of TowneBank. We recommend considering TowneBank Mortgage as your trusted partner.
Leaving Site

You are now leaving the oldpoint.com website

As of September 1, 2025, Old Point National Bank became a division of TowneBank. We invite you to explore career opportunities at TowneBank and all Towne Family Companies here.
Notice

You are entering the Old Point Wealth Management, A Towne Family Company website

Investment products are not insured by the FDIC, are not deposits, and may lose value.