There are a lot of reasons to buy a home of your own.  Many people are still on the fence about buying after the housing market crash.  For most people, buying is a good option.  Here are a few reasons why:

• Interest rates on mortgages are at record lows – if you want to borrow a lot of money for a home, there is no better time to do it!
• A mortgage is kind of like a savings plan.  You pay in every month and when you go to sell years down the road you get your money back out. Granted with the housing crisis this did not pan out but now with the low prices, you won’t be going upside down.
• Home prices are really low, the inventory is dwindling causing some prices to start to rise but the home prices are still quite low.
• You can get some good tax credits and you know what you will be paying to live there for the amount of time your mortgage is locked in – no rent hikes!
• If you like a great credit score, pay your bills on time and your mortgage – mortgages that are paid on time help increase your score.

There are many more reasons to buy a home but these are a few you may not think of right off the bat!

If you are thinking about buying a home one of the first things you need to do is check on and perhaps improve your credit score. Whether or not you can get financing and what kind of financing you can get depend a lot on your credit score.  If you score is not up to par you will need some time to work on it before you can get pre-qualified for a mortgage which also has to be done before you can buy a home. (more…)

You have decided you are ready to purchase a home, what do you need to do?  One of the most important steps is to find out from a loan officer how much house you can afford by getting pre-qualified or pre-approved.  There is no point in looking at homes if you don’t know your budget and if you want to submit an offer you need to prove that you will be good for the purchase price.  I required that all of my buyer clients are pre-approved before we go out looking.  If you don’t have a lender I work with several very good lenders that I can refer you to. (more…)

These days there are a lot of potential home buyers that are not able to get financing to purchase a home.  Many of these buyers have a great job, low or no debt but they have had a short sale, foreclosure or some other major financial event in their more recent past that is keeping them from qualifying for a mortgage.  I work with several investors that are looking for buyers that want to purchase a home on a contract for deed.  Most of them do require at least a 10% down payment.  This is a great opportunity for those buyers to purchase a home, get back on their feet with their credit score and then get the mortgage they need down the road.  If you or someone you know is interested in purchasing a home on a contract for deed, call or email me to discuss the options!