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Andrew And Associates
Seven Helps in Going from
Renting to Owning…
It’s Easier than You Think
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One of the
biggest challenges in purchasing
your dream home is getting the
down payment. There seems to be
at least two problems. Either
there is never enough money left
over each month to save for that
down payment or the prices of
homes in your neighborhood
continue to appreciate faster
than you can save. You may not
be aware of some opportunities
available to help you purchase
your first home. You should
explore those avenues and make
every effort to purchase a home
sooner than later. Then, you can
begin enjoying the appreciation
of your home and the income tax
advantages that come from home
ownership.
There are many
government programs that have
grant programs to help first
time home owners purchase their
home with little or no down
payment. Two of these agencies
are the Federal Housing
Administration (FHA) and the
Veteran’s Administration (VA).
In addition to these government
agencies, many states also have
programs available to first time
homebuyers.
Thousands of
people are realizing their dream
of home ownership every year.
Here are a few things you need
to be aware of when purchasing
your first home:
1. You can make a
much smaller down payment than
you think.
There are many
state and national programs
designed to help first time home
buyers. As long as you’ve never
had your name on a home loan,
you can qualify… even if your
spouse is a former homeowner.
It’s is absolutely critical that
you work with a professional
real estate agent that is
knowledgeable in this area.
He/she can provide you some very
relevant information for first
time home buyers.
2. Ask your
lender about help with your down
payment and closing costs.
Don’t assume you
can’t get a loan. For example,
if you own a car outright, your
lender may be able to use that
asset as a means for securing a
loan for your down payment.
Don’t be afraid to ask
questions. A good lender will be
glad to help you in any way
he/she can.
3. Be aware of
Seller Financing.
In some cases,
the seller of the home may
consider taking a second
mortgage in what is called a
seller take back. The seller is
acting as the lender. Under this
condition, you may make regular
monthly payments to the owner
instead of making a large down
payment.
4. Get a cash
down payment without going into
debt.
There are
investments available that can
generate tax refunds for you. In
turn, this money can be used as
a down payment for your new
home. Generally, the amount you
pay each month is small. This
money and your home will be
yours when everything is done.
5. Perfect
Credit is not required.
If you can come
up with the minimum down payment
in cash or secure a loan to get
the down payment, many lenders
will find a way for you to get
your mortgage. Keep in mind that
finding a seller that will take
back the mortgage can be very
helpful as a first time home
buyer.
6. First things
first… Get pre-approved for a
loan.
It does not take
a lot of time to get
pre-approved for a loan. Once
you have this approval, you will
know where you stand
financially. This will
facilitate your search and
purchase of your new home. A
major benefit of being
pre-approved is that it will add
clout to your offer to purchase
a home. The seller will know
that you are a serious buyer. If
the seller receives another
offer from someone not
pre-approved you will be given a
higher priority in the final
consideration. Ask your real
estate professional to assist
you in finding a quality lender
for your home mortgage.
7.
Choose your agent wisely.
You should always work with a
full-time professional real
estate agent. It will save you
time, money and effort. A good
agent will be knowledgeable
about all of the areas discussed
above. Don’t hesitate to ask
your agent a lot of questions.
This will help you evaluate
his/her abilities to help you
through the entire buying
process.
Do you have
questions or need advice you can
count on or just want to discuss
this further?
Don’t waste any
more time; pick up the phone and
call me now! I’m here to help!
I offer a
five star guarantee. I
appreciate your business,
loyalty, trust and referrals. My
goal is to provide the very best
counsel and advice to meet your
real estate needs. If I can
assist you, a relative, friend
or co-worker, please give me a
call. I look forward to the
opportunity to serve you.
For prompt,
courteous, professional service,
call Larry Andrew:
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Cell:
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801-369-5125 |
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Toll Free:
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1-800-825-9275
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Office: |
1-801-756-2121
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