Tips for Home Buying

The home buying process is sometimes overcomplicated, owning the keys to your own home is not that hard!

* Step 1: How much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The online calculators can help and consider the following:

– How much home you can afford
– Buying vs. Renting
– Home Economics

Need help with your downpayment and/or closing costs? Check the homebuying programs in your state.

A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that downpayment! Find a housing counselor near you.

Step 2: Know your rights. Discover the following:

– Fair Housing: Equal Opportunity for All – brochure
– Real Estate Settlement Procedures Act (RESPA)
– Borrower’s rights
– Predatory lending

Step 3: Shop for a loan

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

– Look for the best mortgage: shop, compare, negotiate
– Let FHA help you
– Learn about interest only loans
– Avoid Predatory Lenders

Step 4: Learn about homebuying programs.

Check the homebuying programs in your state. FHA loan programs offer lower downpayments and are a good option for first-time homebuyers.

Step 5: Shop for a home

– Choose a real estate agent
– Prepare a wish list – what features do you want?
– Home-shopping checklist – take this list with you when comparing homes
– Homes for sale (including HUD homes)
– ” Fixer-uppers ” – home purchase and repair programs
– Manufactured (mobile) homes
– Build a home

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Step 6: Make an offer

Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.

Step 7: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs. For your protection get a home inspection

Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.

Step 9: Sign papers

You’re finally ready to go to “settlement” or “closing.” Be sure to read everything before you sign!

 

For more info: Visit http://www.coasttocoastrealty.me Call LaTosha French @ 800-446-6976 or email to c2crealtygroup@gmail.com for a list of homes that meet your needs.

Buying A House At 21 | How We Bought Our Home On A Single Income! Budgeting to buy a house can be difficult so here are some tips I learned from our experience in buying a home on a single income and how you can do the same!

Do you have any more tips for buying a home on a single income or budgeting for a house deposit? Feel free to comment and discuss down below! These days it is NOT easy to get a mortgage, especially when you are a young family or couple on a single income. I hope that the tips and tricks we used along the way help you to buy your first home!

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Hi my name is Ash Jackson and on this channel I plan to post all kids of how to videos such as ‘how to lose baby weight fast’, ‘how to organise your home’, ‘how to create DIY decor and furniture on a budget’, ‘how to eat healthy on a budget’ ‘how to be a stylish mum on a budget’, ‘how to meal plan for your family’, how to create healthy family meal plans’, ‘how to workout at home with kids’ and much more. I also do Australian Family Daily Vlogs with my Aussie Vlogging Family on our separate Young Family Vlog Channel.
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