First time home buyers...why not make your New Years Resolution today...Buy your first home!
Many of you renters are paying extremely high rent these days. Why pay someone elses mortgage when each month that money could be paying down your very own mortgage? With the condition of the market as it is right now, home prices are probably the most affordable they will be in a long time! Without needing to sell a home before purchasing a new one provides first time home buyers the wonderful opportunity of taking the most advantage of the very competitive home pricing.
For most first time buyers, the down money and closing costs can be the problem. But, think of it this way, if you'd brew your coffee at home instead of swinging by Starbucks/Dunkin Donuts etc. each morning for a year; you could put a whopping $1095 per year into a down payment! Now that doesn't sound like it would hurt too much, now would it? That is just a simple illustration of where you could probably be creating your "new house" account without much struggle.
The mortgage market is requiring more these days than in the past to qualify for a mortgage. That is true, I won't try to mislead you. But, this is where a knowledgeable and reputable mortgage broker will be able to help you navigate your way. Along with a buyers agent, the process of affording, finding a home and closing on your first home could be made as simple and stress free as possible. Want to hear some REALLY great news? A buyers agent, works completely for you the buyer. All loyalties and responsibilities are to you AND the buyers agent costs the buyers (you!) nothing in commission! Your buyers agent's commission is paid by the listing agent (for sale by owner sales can be a little different) of the home you are buying.
So, why not look into your options? Next year this time, you could be celebrating the holidays in your own home!
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