While there isn’t the tax credit motivator, the current market is plenty attractive for first time home buyers. With rents increasing across town and plenty of loan programs such as FHA and VA geared towards making financing available to new home owners, purchase is now a cheaper option than renting in some cases.
Minnesota First Time Home Buyers Information
For first time home buyers looking to find out about the market and what it would cost to get into their first home, our suggestion is to get in contact with an expert that focuses on the areas you are interested in. Sites such as EdenPrairieExperts.com or MinnetonkaExperts.com are a good starting point to learn about the area and where prices are currently at for that particular area.
Find Out What You Can Afford
After you have decided your preference is to move forward and purchase a new home, our suggestion is talk with your lender and get prequalified. Most Realtors in MN will have contacts with reputable lenders and can put you in touch with someone they trust. Consider the tax savings you will get when purchasing in determining your ultimate comfort level. The interest deduction offered to homeowners translates in to extra spendable cash every year that you would not otherwise get.
For more information, visit JoeAndCindy.com.