5) Are There Any Inside Tips On Down Payments For First-Time Buyers?
Folks who are new to the home-shopping world need more than just good luck. You should, of course, save all you can for closing costs and a down payment. For further help: Revisit your "wish list"Reconsider what you're looking for in a first home. Find out what you can afford now, and consider buying a starter home that requires a small down payment with the idea of moving up in a few years. Take advantage of special programsLook into special low- and no-down payment programs like loans guaranteed by the Department of Veterans Affairs (VA) and Federal Housing Administration (FHA). Some areas also have local programs for low- and moderate-income families or first-time buyers, offering lower interest rates or down payments. Gather giftsCheck with parents and relatives for monetary gifts that can go toward a down payment or closing costs. A 20% down payment can dramatically cut monthly costs and eliminate monthly mortgage insurance premiums. Consider "sweat equity"If you can fix up a home that's in poor condition, you increase the value of your investment faster. Ask us about special combination loans that provide fix-up funds as well as purchase money. Scour the market for bargainsCall on us to research foreclosure properties, housing auctions and other homes available at below-market costs. Want to know more?Click on "Ask Your Own Question" to the left or call or e-mail us today with questions of your own. We can tell you how much house you can afford, and we can help you get into your first home. |
Should Know To Get Started?
2) What Would You Recommend As The
Best First Step In Home Buying?
3) What Is The Single Most Important Rule
In House Hunting?
4) What Are The Essential Steps Every First-Time
Buyer Should Know?
5) Are There Any Inside Tips On Down Payments
For First-Time Buyers?