Finance the Home of Your Dreams! (Non Reverse Mortgage Info)
HELP FOR BUYING A HOME - First time home buyer-- Diverse products have evolved so virtually anyone can own a home. There are, however, certain criteria. And there are times when it's not as easy as you think. Lenders can have strict criteria for homebuyers, and first time home buyers need to garner information and learn how to qualify. Tips for Buying a New Home.
How much money will I have to come up with to buy a home? "Well, that depends on a number of factors, including the cost of the house and the type of mortgage you get. In general, you need to come up with enough money to cover three costs: earnest money - the deposit you make on the home when you submit your offer, to prove to the seller that you are serious about wanting to buy the house; the down payment, a percentage of the cost of the home that you must pay when you go to settlement; and closing costs, the costs associated with processing the paperwork to buy a house." (More info) (Glossary)
Owning a home is an adventure. We're here to help in any way we can.
When should you buy a home? Buy a home when you can afford to pay for it. A loan insured by FHA (the Federal Housing Authority) has a minimal down payment. More information: Hud.gov - click here.
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