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Young couples can live comfortably in a rental apartment or small house initially, but inevitably the prospect of children or other considerations will create a demand for more space.
At some point, you will feel that it's time to buy a house, but accumulating the cash for a down payment, moving expenses and up-front loan costs may make it seem out of the question.
But don't despair--home finance is part of a Realtor® training and after discussing your financial picture with them, you may well discover that your prospects for a mortgage are better than you think. If your ability to qualify for a loan in other respects is adequate, creative solutions for a tight initial cash position are available.
A short-term lease-purchase arrangement with the seller, for example, or perhaps a lender with a program that minimizes the down payment and allows some of the loan costs to be included in the payment schedule.
Your agent is aware of these and other alternatives. If you're ready to buy email me. I can help make it happen!
with permission--Realty Tips
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Comments (1) :: Post A Comment! :: Permanent Link :: Email This Entry
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Yes it is!
Posted by: Jim Crawford
Date: Feb. 9, 2009
There will never be a better time to buy a home than right now. Rates are still low, sellers will negotiate and maybe even pay closing costs, and prices are down. This is as good a bottom as you can find. I tell my buyers this in the Atlanta real estate market all the time these days.
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