Buying a home is easier than you think!

By
Real Estate Agent with RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident BRE# 01215778

Buying a home is still the American Dream and a possibility for many Americans!  Lenders are lending and there are many loan programs that will help buyers qualify for more home than they expect.  Most home owners live in their home between 5 and 7 years in a normal real estate market.  There are loans that can either lower payment or allow a buyer to qualify for more home.  Interest Rates being the lowest they've been in some 50+ years make it foolish to hold off on a home purchase at this time.  Home prices are in the midst of a double dip and this has caused home prices to be artificially low.  Lenders have plenty of money to loan and are financing buyers quickly.

The tool for first time buyers and all low down payment buyers that makes buying a home easier is the FHA Financing rules which allow a gift to be used as a down payment.  Also a buyer is allowed to ask the seller to assist with the closing costs.  Buyer that have hard time qualifying on their own are allowed to buy their home with some one else and combine their income for qualifying.

Renting a home at this time makes no sense unless a persons credit, life style or financial situation makes it necessary.  It is better to own a lesser home than rent a mansion.  Many people can buy a home at the same monthly payment or less than they are paying in rent.  In fact, when adding the tax benefits of home ownership there is a possibility of paying 15% or higher in monthly payment and ending up at the same cost of renting.  The best way to have this figured out for you it to consult a CPA.  This could be the best conversation of your life!

The least you can do for yours and your family's future is to call your Realtor, ask queston and at the very least, find out if there is a home out there that your family is able to buy!  Paying someone else' mortgage and allowing them to take the writeoffs may not be the best financial decision to make!

Your Friend & Realtor,

Tony Lewis * RE/MAX of Valencia * www.TonyLewis.com * tonyglewis@yahoo.com * 661-702-4720

Call, Text or Email Tony Lewis to find your new home in Valencia, Santa Clarita or Southern California!

Tony is a Certified Distress Property Expert trained to sell homes and avoid foreclosure in today's market!

Take a look at all Bank Owned/foreclosures in Valencia, Stevenson Ranch & the Santa Clarita Valley!

Labor Day Weekend Events, Festivals, To Do, To Stay in Santa Clarita, Los Angeles & So. California!

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Rainmaker
547,219
Jon Quist
REALTY EXECUTIVES TUCSON ELITE - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

I agree. This is a great time to buy. In most cities right now it's cheaper to buy than rent the exact same house.

Aug 28, 2011 07:54 PM #1
Rainer
247,741
Doug Bullwinkel
Envoy Mortgage, NMLS 6666 - Roseville, CA
Mortgage Loan Originator NMLS #281609

Very true, Tony.  In addition to the low interest rates, there are "Grant" programs to provide most of the down payment to qualified buyers, without any repayment for the grant.  Sellers, including bank owned and short sales are willing to pay buyers closing costs in many cases. 

Aug 28, 2011 08:53 PM #2
Rainmaker
551,714
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

Doug, is there a website to find the grant programs?

Aug 29, 2011 04:46 AM #3
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Rainmaker
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Tony Lewis

RE/MAX Valencia, Stevenson Ranch, Santa Clarita
Home values are rising, want to know the value of your home?
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