first time home buyer – owner loan

November 13, 2010

First Time Home Buyer Grants

Sarah Beckham asked:




Did you know that is you have no past property purchasing experience you are in a front line position to receive free government money to purchase a new home, regardless of your credit history? First time homebuyer grants are available to thousands of American taxpaying citizens who are pursuant of the American dream, even those with less than perfect, or even downright horrible credit ratings.

When it comes to property sales, the government is very forgiving of past financial mistakes and irresponsible spending habits. They have one goal, and one goal only and that is to maintain the growth and profit margins of property sales in order to insure regulated property tax revenues and cultivate a healthier American economy. The government is well aware that the most essential investment that any individual will make is into their home, hence providing a pretty good guarantee that you will make good on your mortgage payments to your lender. Even the most frivolous of spenders and poor financial decision makers are surely conscientious of keeping up to date on their housing payments. The roof over your head is detrimental to your well being.

Investing in American citizens by way of first time homebuyer grants is not much of a gamble for the government. In most cases, the home that you live in is likely going to be first on your list of monthly payments, and even if you were to default on your mortgage and foreclose on your property, the government is able to take possession of the property and sell it again. They will receive the required property taxes one way or another, as long as someone is occupying the property. That may as well be you.

The government will do pretty much whatever it takes to keep people buying homes and paying taxes on their properties, including awarding your enough free government money in first time home buyers grants to fully finance your down payment. This is another reason why they have faith that you will keep up on your mortgage payments. It would take quite the fool to throw away the opportunity of owning your own home and saving tens of thousands of dollars on the down payment, just by slacking off on the mortgage payments. Not to mention the fact that anyone who is foolish enough to do something like that, is probably too foolish to do a free grant search to find unclaimed government money anyway.

So don’t be a fool, apply for first time homebuyer grants today.

Jorge

August 13, 2010

What First Time Home Buyers Need to Know

Mike Clover asked:




The hard way always seems to be the better way. I have been told there are two ways to do things in life, “The hard way and the easy way.” I think most want to do things the hard way. When it comes to buying a house for the first time, there is process to follow so your buying experience is not done the hard way. The easy way may not seem the best way in the eyes of a buyer, but I assure you it’s the correct process. I have seen more problems with mortgage loans following apart because someone led the cart before the horse. Here is the easy way to buy a home.

Get approved first
The first step in the home buying process is to get your finances in order first. Get your credit reports pulled and your income verified to see where you stand. If you don’t do this first I guarantee that you will have problems. Most want to go and look at homes first and then apply for a mortgage. This is why all the nightmares you hear about happen in the lending industry.

Meet with reputable lender
After you have been approved for a mortgage meet with the lender to review what type of loan they have approved you for. You need to understand the loan and your estimated payments with your credit. It is important that you understand all aspects of your loan and monthly payments. Mortgage payment can be an issue as well, because you thought you payment might be lower. Some of the on-line calculators don’t estimate your entire payment, which causes confusion in lending. The calculators on-line usually estimate your principal and interest payment only, which does not include your taxes, MIP, and homes owners insurance with the payment. So make sure your review all of this with a reputable lender.

Meet with a seasoned realtor
After you have met with a lender and have been approved, the next step is to get a realtor to find homes in your price range. I would recommend that you find a full-time realtor, not one that is part time. The reason is if there is a problem during the day, you will have issues getting a hold of this realtor because they are at work. There are a lot of part-time realtors out there, and as far as I am concerned should not be allowed to have their license. Real Estate is a full-time career and requires someone that has experience. If you are working with a realtor that does not have experience you could have issues as well.

If this process is followed and the people you are working with are experienced, then your home buying process should be a good one. Buying a home is a big step in life and needs to be handled by experienced real estate professionals.

Jeffrey

March 17, 2010

First Time Home Buyers Help: 3 Tips to Get You into Your Dream Home

Wade McGuinn asked:


Buying your first home is likely the largest single purchase you have ever considered, which is why first time home buyers help is necessary. Because of the cost and significance, it is important to understand all of the details surrounding the potential purchase. From finding a realtor or builder to choosing the best mortgage to coming up with the funds necessary to make the purchase, the process may take some research and work on your part, but the result is owning your first home—one of the most important and rewarding investments of your lifetime.

Below are three tips to take you from dreaming about your first home to experiencing the reality of your first home purchase:

1.    Determine if you qualify for special loans or grants. First time home buyers have the unique opportunity to benefit from special programs and incentives, such as significant tax credits, low-interest-rate loans and event government grants. Whether you are able to find a program that cushions your monthly mortgage payment or helps you to pay a chunk off the purchase price of a home, it is worth the time and effort to fully research all options. Simple Internet research may help you to learn more about the opportunities available to you, or you can call a trusted mortgage consultant who specializes in first time home buyer programs.

2.    To buy or to build? For some first time home buyers, building is a great option. Now more than ever, builders and construction companies understand that customers need a great value if they are going to build. Rather than searching for months and months for that perfect house, consider meeting with a new home builder to determine if a custom townhome or home is right for your housing goals and budget. Imagine the excitement of choosing the features and design of your very own home!

3.    Organize your finances. Making sure your bills and finances are in order helps you to be ready to provide the paperwork necessary to close the sale on your new home. If you have been unorganized in the past, now is the time to get a grip on the mass of bills, files and paperwork stuffed into the file cabinet. The last thing you want is to be ready to move forward on the purchase of the home of your dreams, only to find your financial records are a mess and you have to get it together before you can take the next step.  

As a first time home buyer, this is a special time in your life—a milestone that can be a great moment to remember for years to come. However, it is important to go into the process of purchasing or building a home with thoughtful consideration and research, so you fully understand the process and details involved. Don’t be afraid to ask questions and interview experts, such as mortgage consultants, financial advisors, home builders or even a wise relative to obtain the first time home buyers help you need to make the best decision for your future.



Cynthia

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