FIRST TIME HOME BUYERS
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PREMIERE PLUS REALTY
CHRISTOPHER LADD HARKER LLC, REALTOR
GULFSIDE MORTGAGE INC
CHRISTOPHER LADD HARKER, BROKER
Office free 866-738-5517 Pay 239-455-1977
Free fax 941-375-3658 CHRIS CELL 239-682-0182
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BUYERS-ALMANAC
SELLERS-ALMANAC
MORTGAGE-ALMANAC
YOU CAN'T MISS WITH CHRIS Call him today! CHRISTOPHER LADD HARKER LLC COMPANY
REALTOR AGENT, MORTGAGE BROKER CONSULTANT
Buying your first home ever or since few years . read more. 
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Dave Gallus (owner Premiere Plus) & Chris. Dave in conference.
FIRST TIME HOME BUYERS
BUY or RENT
A home is an investment. When you rent, your monthly rent is money gone forever. When you own your home, you deduct a large part of your monthly mortgage payment from your income tax ( loan interest and property taxes). In addition, the value of your home may go up over the years. Finally, you will have the pride of home ownership. Having a home that is all yours that you can improve the way you want it and these improvements belong to you.
WHO IS a first time buyer
Generally, a first time homebuyer is a person who meets one of these criteria. An individual who has had no ownership in a principal home during the past three years. This includes a spouse ( if either meets the above test, they are considered first-time home buyers). A single parent who has only owned with a former spouse while married. This means if you have owned in the past you can still be considered a first time home buyer.
SPECIAL FINANCING
There are many special programs (government and private) to help first time buyers obtain financing. Chris will help you check these out. These programs help you as a first time home buyerin several ways. They can permit you to pay lower interest rates than others, reducing the size of your monthly payment. They can allow you to make a smaller than normal down pay-ment, making it more possible for you to save the money you need. They can allow you to pay the mortgage over a longer period, reducing the size of the monthly payment.
CASH REQUIRED
To be honest, this is usually the largest road block to first time home buyers.The lender will work with you to make it possible to own your first home based on what money you have. The two kinds of cash you need are: the down payment and the closing cost. While the regular down payment for home buyers is ten or twenty percent of purchase price, special programs for first time buyers allow down payments for as little as three percent and even no money down. Closing cost are somewhat variable, but usually will cost several percent of the purchase price. It is possible in some cases to negotiate for the seller to pay closing costs.
MONTHLY COST
The mortgage payment is usually made of four parts: principal: (the repayment of the amount you actually borrowed); interest: (payment to the lender for the money borrowed); homeowners insurance: (monthly amount to insure the property against loss from fire, and other hazards required by lenders); and property taxes: (the city / county taxes assessed on your home).During the life of the loan, you pay far more in interest than you pay in principal - sometimes two or three times more!
Because of the way loans are structured, in the early years you will be paying mostly interest in your monthly payments. In the final years, you'll be paying mostly principal. So in the early years your tax deductions are almost the whole mortgage payment. Then in later years the deduction is smaller.
Of course you have your monthly utilities. If your utilities have been covered in your rent, this may be new for you. Chris will work very carefully with you to know what utilities are for areas where we are looking for homes. In addition, you might have homeowner association or condo association dues. You will have property taxes for the city / county. Taxes normally are rolled into your mortgage payment. Chris will work carefully to help you anticipate expected taxes for homes we are looking at.
CLOSING
For first time buyers, closing can be a real mystery. Basically, you will sit at a table with Chris, maybe the agent for the seller, and the the seller, and a closing agent. The closing agent may be an attorney or may be a title company agent. This agent will have a stack of papers for you and the seller to sign. While the closing agent is giving you a basic explanation of each paper, you may want to take the time to read each one and/or consult with your agent to make sure you know exactly what you are signing. This will all take an hour or two and then the keys for your new home are given to you.
THANKS. Christopher Harker
YOU CAN'T MISS WITH DEANE and CHRIS
CALL US NOW - DON'T YOU WAIT
CALL US NOW - DON'T YOU WAIT
Office free 866-738-5517 pay 239-455-1977 free fax 941-375-3658 CELL 239-682-0182
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