Dreaming of owning your first home? Tired of shoveling out rent for a home or apartment that doesn't feel like yours? A shift from being a renter to becoming a homeowner may be easier than you think. We are here to help you.
Where do you start? First of all, learn the financing basics. Get pre-approved and become a smart shopper. When you buy your first home, making monthly payments probably won't be a problem. After all, you are already paying rent to your landlord each month. It's coming up with the lump sum needed for a down-payment that may seem impossible. Fortunately, there are options to make buying your first home a happy reality.
Programs for first-time buyers. There are several local or federal government programs that help first time buyers get into the housing market. Ask us about these options.
Obtaining credit. Your bank or credit union may help as well. Are you debt free and own a car? Your lender may lend you the down-payment by securing it against this asset.
Need financial solutions? Do you have problems with your credit rating or owe money in taxes? Buying your first home is still a possibility. Check with your lending institution about options, such as paying a higher down payment.