First Time Homebuyer Financing

The latest Zillow data shows that a great migration of renters into homeownership will take place this year. Publications show the lack of affordable rental units will force increases due to simple supply and demand. Rents will increase significantly over the coming years.

According to data there is an overall lack of knowledge concerning the financing programs available to first time home buyers. A majority believe a large down payment is needed to purchase a home. This is simply not the case. There are many government sponsored low and no down payment programs available. This is true for every state and every income level.

Credit requirements are another area of great misunderstanding. Credit scores as low as 550 are acceptable for some lenders. There is also low or no cost help available to those who need credit repair assistance.

Find out more about these programs now.

Historically low mortgage rates as well as reduced home prices have presented many with an opportunity to own a home. This anomaly is due to a market collapse and may not happen again for decades. The last time it happened was during the Great Depression. Home prices and payments are often not much more than the cost of rent.

See a recent homeowner video testimonial.

One important trend that is separating the new homeowner from renters who wishes to purchase a home is the knowledge of the available financing options.  Successful first time homeowners are seeking information and professional guidance earlier in the home shopping stage. There are many opportunities to take advantage of free information and many home financing professionals will assist with education and qualification at no cost.

Find out more about home ownership programs now.

 

Leave a Reply




Message: