As a realtor® I am committed to assisting families identify and purchase their home offering them an opportunity to realize their vision of the American Dream. Increased home prices have made these opportunities a bit more challenging and I find satisfaction in sharing community resources with potential home buyers. Today, online and community resources are available to assist First Time Homebuyers and I would like to share the following:
Should I buy my home or continue to rent? GinnieMae offers an online resource. Go to: www.ginniemae.gov/rent_vs_buy/rent_buy_calc.asp?
Am I ready to buy a home? GinnieMae offers you an opportunity to review and format into a worksheet your monthly income and expenses, determine how big a loan you can afford and how buying a home will affect your monthly budget. www.ginniemae.gov/1_learn/ready_to_buy.asp?
I have a troubled credit history how can I obtain a loan? There are numerous nonprofit organizations that can assist you in working with the credit rating agencies and your creditors, including: Neighborhood Housing Service, (623) 932-9077, Chicanos Por La Causa, (602) 269-6485, Credit Counseling Centers of America, (602) 279-9222.
I don't have a lot of money to make the purchase, is there any help available? There are local and national programs available to help with some of the down payment and closing costs you will need. Shop for your loan, check with at least 3 (three) lenders and ask them to assist you with qualifying for community assistance funding through the AmeriDream program http://www.ameridream.org/. Maricopa County offers First Time Homebuyer assistance with funding their purchase through a program called "Home in 5." http://www.mcida.com/home-ownership/programs.aspx Also compare costs and interest rates and negotiate the best deal for you and your family.
How do I make an offer once I have confirmed my ability to purchase a home? The steps toward home ownership include: choosing a real estate agent, putting together a wish list of the things you want in your home, development of a check list to use when you look at available homes.
I've found my "Dream House," what next? Discuss the offer process with your realtor, once the offer is accepted you will need to obtain a home inspection, shop for insurance for your home and last, but most importantly, once your lender has approved your funding sign the "closing documents" and make the home yours. You will find links and additional information about these steps at http://www.hud.gov/buying%20/index.cfm
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