--- title: "On KATV: The Home-Buying Process" description: Buying a home is one of the greatest decisions you can make. image: https://blog.blrmortgage.com/hubfs/Scott%20KTHV.jpg --- ![blrm_logo-166x45.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blrm_logo-166x45.png?width=166&name=blrm_logo-166x45.png "blrm_logo-166x45.png") ![logo-rock-mortgage.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/logo-rock-mortgage.png?width=180&name=logo-rock-mortgage.png "logo-rock-mortgage.png") ![blog-bg.jpg](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blog-bg.jpg?width=1600&name=blog-bg.jpg "blog-bg.jpg") # NEWS # On KATV: The Home-Buying Process Posted by [Blake Montgomery](https://blog.blrmortgage.com/mortgage-newblog/author/blake-montgomery) on Nov 26, 2018 10:17:13 AM ![Blake Montgomery](https://app.hubspot.com/settings/avatar/0d0a314baa0a411b65de2e97005b52d9) - [Tweet](https://twitter.com/share) Buying a home is one of the greatest decisions you can make. Watch Scott and Rob to learn more. ![](https://blog.blrmortgage.com/hubfs/Scott%20KTHV.jpg)  From the October KTHV Interview with Scott McElmurry   No headphones? No problem! Read the transcript below!   Rob: "buying a home is a big decision perhaps the biggest women will ever make an investment of the size not to mention all the financial jargon all the requests all the paperwork it's like this it's overwhelming here to navigate the process president and CEO bank of Little Rock Mortgage got Scott McElmurry thank you so much for joining us as always good to see you it's a this is a time of the year not the best time you  normally think spring and summer but people are buying homes now"   Scott: "they are and it could be a really good time to buy because of that simple fact that not a lot of people are maybe in the market might find someone who's willing to negotiate just really need to get out of their house"   Rob: "and we're talking about a few moments ago about how Pine Bluff Police Department was offering a $10 thousand down payment assistance and that really is the the problem with  first-time homebuyers right?"   Scott: "one of the biggest barriers for first-time homebuyers is that down payment closing cost it's not that they can't afford it I mean they're paying rent right now anyway right it's just the saving of that down payment so it's a really good really good deal for the city of Pine Bluff"   Rob: "so to walk through this process what do people need to do if they decide that they are ready to get out of that"   Scott: "well be informed I mean its first thing so there's a wealth of information online some of its good some of it can be confusing so you kind of need a baseline of understanding and so I'm kind of old school I like the phone conversations they're interactive and you can ask questions but like our officers love to educate and one of the things that they will do especially with the first-time homebuyer is they may even prompt questions or answer questions before they're even asked or even know to ask so getting that information down and really understanding what you're getting into I think is key"   Rob: "you don't know what you don't know untill you start asking about their tax returns  three years ago well why"   Scott: "well it's not necessarily that I mean the terminology LTV what's that mean you know what are the different loan programs you know people look at you know interest rate for example and say well I want the lowest rate you do but maybe not why you know just having a lowest interest rate alone may not be the best program for you"   Rob: "yeah for sure but what is something that there's a lot stop while people as we said is a down payment but you don't have to have the 20% you only have to have 10% so many other options"   Scott: "yeah there really are I mean 3% is kind of the key for a first-time homebuyer but there are other programs like state bond programs that if your income if you're in the lower income bracket or you don't make too much money you can actually qualify with some downpayment assistance much like the Pine Bluff people were talking about you can get some of that 3% help for downpayment assistance and pay it off over time or potentially get it forgiven"   Rob: "and one of the good think about working with an actual person locally instead of an online you know lender is you walk through the process and when you come up with a problem you can kind of walk you through that"   Scott: "absolutely I like to say you can get online you can use us and get online do everything digitally but you can also come in and kicked in the door if you need to have some questions answered"   Rob: "well we appreciate you and we'll see you next time" Topics: [first-time home buying](https://blog.blrmortgage.com/mortgage-newblog/topic/first-time-home-buying) [home ownership](https://blog.blrmortgage.com/mortgage-newblog/topic/home-ownership) [FHA Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/fha-loans) [Home Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/home-loans) [Low Down Payment](https://blog.blrmortgage.com/mortgage-newblog/topic/low-down-payment) [Mortgage Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/mortgage-loans) [USDA Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/usda-loans) ### Subscribe to Email ### Recent Posts ### Posts by Topic - 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