The expanded tax credit for U.S. homebuyers, including the $8,000 First-Time Homebuyer Credit and the new $6,500 credit will expire on July 1, 2010. As a buyer, you must be under contract by April 30 to make the deadline. You will be well on your way to these tax credit savings if you follow these guidelines.
Step 1. Speak to a REPUTABLE Lender and get Pre-Approved
Local lenders understand your market and know of loan programs that might be beneficial to you.
The "Perfect Storm"... Great home prices in a buyer's market, low interest rates, FHA and VA loan products, and the $8,000 tax credit. Check with your lender on any local programs that might help with closing costs or in other ways. There are still many mortgage programs available that require little or no money down. Check it out your options for yourself and then get preapproved for a loan so you know how much house you're able to buy. Speak to one of our preferred loan officers at Bank of America or Met Life Home Loans.
Step 2. Know What You Are Looking for in Your Next Home.
Location, location, location. Consider schools, proximity to work, recreation and sometimes family.
Be specific on the home you want. Single family, town home or condo- which is right for you and your lifestyle? How many bedrooms do you need? How many baths? Is a basement or garage a must?
Keep an open mind. Prepare yourself as to if you want a fixer upper, something that needs just carpet and some paint or a home that is turn-key and move in ready.
FHA Buyer? Find a home that needs minor fixes, some repairs, mechanicals not functioning properly? Finance with an FHA 203(k). The HUD backed program allows you to add in repair money into a primary mortgage; ask me how this program can work for you.
Step 3. Find the Right Real Estate Broker
Working with someone who listens and understands your needs will save you time and money. Work with an agent who specializes in what you are looking for. Most importantly, find someone who is experienced, willing to negotiate on your behalf and go the extra mile. AS your trusted real estate broker, I have the resources and skills to help you find your next home.
Step 4. Be Prepared To Act
Great deals still go fast. It is not unusual to encounter multiple offer situations in this buyers market. Take advantage of me! I have the tools and experience to help you get the best house at the best price and terms for you. Most times, I have access to more accurate information than what you can find in a standard Internet search.
Need more information, ready to start looking? How can I help you?
Renee M Keshishhian,
Associate Broker
RE/MAX Realty Group
443.305.2844/ Renee@FindMeAGreatHome.com
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