First time home buyer programs
First Time Home Buyer Program
First time home buyer
Thinking of buying a home for the first time? Well you should be, though housing prices have proved to go up and down overall they are probably still the best and #1 way to build wealth…They say at any given time of purchase that real estate prices will double over the course of 10 years. Quick math will tell you that if you spent $250,000 on a home you will make an additional $25,000 per year just by paying your monthly mortgage payment which in some cases is about what you would be paying for rent. Below is a step by step guide in purchasing a home for the first time and don’t be afraid to let the professionals work for you, that’s what there here for. Just be sure to research who you are dealing with because like anything else you may run into the wrong person who doesn’t have your best interest at heart. Real estate and mortgage professionals can make plenty of money on a transaction with out having to take advantage of a buyer/borrower so get to know who you are dealing with.
Click Here to Get Pre-Approved Florida Mortgage Pre-Approval
It is important to get pre-approved to know exactly how much your income will allow you to spend. In today’s day and age most home purchase loans will be written through the FHA which is all full Doc loans. The advantage of using the FHA for your new home loan is because you will be able to get up to 97% financing and with a down payment assist program get your down payment paid for and in some cases your closing costs too.
Once you are pre-approved for up to a certain dollar amount now it is time to find a Realtor or a participating seller on your own.
Finding the right seller is important, be clear when you are working with a realtor to let them know you are using a down payment assist program that will need some seller participation to help get the deal closed (down payment assist programs often require the seller to contribute the money for you through a down payment program like Ameridream). So be sure to structure that in your offer so that the sellers know up front, that he will need to help you if he wants to sell. We are in a market now that sellers are eager to sell so trust me they will help if they can.
Bring that contract back to the mortgage person that we recommended and they will finish the process for you…Which are finalize your loan and apply for your down payment assist for your new or First time home purchase.
If you need more help, I will be happy to help you with the process and depending on your area I may have inventory to sell.
Happy house hunting and be sure to find the very best deal…
Company’s that can Help You….
First time home buyer programs News:
Borrowing still possible for imperfect buyers:
Plenty has changed in the mortgage industry since housing slipped into the gutter, but one thing hasn’t: It’s still possible to get a loan without perfect credit or a big savings account.
Community Briefs:
Coldwell Banker Mason Morse Real Estate and Cornerstone Mortgage Co. are joining together to offer a free first-time home-buyer education class at 10 a.m. Saturday, Feb. 25. The focus will be on learning and understanding the steps involved in the home-buying process.
Real Estate Weekly – 2/3/12: Pepco agrees to purchase WaterShed house:
Pepco agrees to purchase WaterShed house Pepco, the Arlington, Va.-based energy company, agreed to buy WaterShed, the prize-winning solar-powered house that earned the University of Maryland top honors in an international solar energy competition sponsored by the U.S. Department of Energy. Pepco plans to reassemble the now-disassembled house, which was designed and built by UM students, [...]
Obama Vows to Cut Mortgage Red Tape:
With even the most creditworthy consumers facing costly paperwork to obtain homeowner loans, President Barack Obama will seek legislation clearing some barriers
Ally Financial Reports Preliminary Fourth Quarter and Full Year 2011 Financial Results:
NEW YORK, Feb. 2, 2012 /PRNewswire/ -- Ally Financial Inc. (Ally) today reported a net loss of $250 million for the fourth quarter of 2011, compared to a net loss of $210 million in the prior quarter and ...
