What does First Time Buyers mean?

First time buyers are individuals which do not have past mortgage loans, so they are definitely a good catch for a lender. First time buyers are hunted by lenders with overwhelmingly good offers, because once a buyer agrees to a mortgage from a lender, there is a great probability that they will stay with the same lender in case of additional loans in the future.

This sort of clientele does not have a bad credit scoring most of the times, so that is why they will have easier access to a discounted rate mortgage or very good terms for a fixed rate mortgage option. Many times, if you already had a property in the past, but you sold it and wish to buy another one, there is a great chance that the lender will offer very flexible mortgage terms for you as well.