First Time Home Buyers it’s your money on the table!
First Time Home Buyers it’s your money on the table!
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers
Publish Article
0 && $ .browser.msie ) {
var ie_version = parseInt($ .browser.version);
if(ie_version Login
Login via
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Real Estate > First Time Home Buyers it’s your money on the table!
Categories
AdvertisingArts & EntertainmentAutomotiveBeautyBusinessCareersComputersEducationFinanceFood and BeverageHealthHobbiesHome and FamilyHome ImprovementInternetLawMarketingNews and SocietyRelationshipsSelf ImprovementShoppingSpiritualitySports and FitnessTechnologyTravelWriting
]]>
First Time Home Buyers it’s your money on the table!
By: Greg Cook
Posted: Feb 25, 2011
Many first time home buyers are in a holding pattern, waiting for that “perfect” time to buy their first home. They’re hoping for that combination of the lowest price and the lowest interest rate before jumping in.
If that’s you, I have some advice.
1) Hope is not a strategy!
2) Take a close look at your current strategy, it’s probably costing you money.
I did a post a couple of months ago about the real cost of waiting.
What is the real cost of waiting for first time home buyers?
The recent run-up in interest rates has increased the monthly cost of that hypothetical 0,000 home / month or 00 over a five year period.
FHA loans are the “loan of choice” for most first time home buyers. The low down payment requirements and easier qualifying guidelines make the most attractive option among loan programs.
FHA has announced that on April 18th they will be increasing their monthly mortgage insurance premium by .25%. If you wait until after that date to start the hunt for your first home, the tab will increase by another .67/mo or 00 over five years, on that 0,000 home.
In that same period of time, home values in many markets have decreased by about 3%, so you would have gained about /mo or 20 over 5 years.
So net-net sticking with this “wait n see” strategy will cost you almost 0/mo
If you’re still paying rent in most markets it’s cheaper to own than rent, so you’re overpaying for one form of housing when there is a cheaper alternative.
Still think renting is cheaper?
Read more articles
Home Path Mortgage: Fannie Mae Foreclosure Properties At Discounted Prices
First Time Home Buyers – 3 Myths about first time home buyer programs and incentives
Tax Credit to Help Georgia Home Buyers
Great Incentives for the First Home Buyer
Unlike some of my peers, I don’t claim to have a crystal ball to predict which way interest rates and home values will go over the next few months, but I can tell you this with absolute certainty:
Home values and interest rates will do one of three things (and not necessarily in the same direction).
They may go up, they may go down, or they may stay the same. and in only one chance in three will you get better than what you can get today (one in six if you are playing both sides of the fence)
Bottom line, “IT’S YOUR MONEY ON THE TABLE, HOW MUCH OF A GAMBLER ARE YOU?”
For more valuable first time home buyer information check out our blog:
http://firsttimehome.us
Greg Cook – About the Author:
Greg Cook is a mortgage professional with more than 30 years experience help homebuyers achieve their part of the American Dream.
His street level view allows his clients to wade through the millions of bytes of information and make the right decision for their family.
You can find more first time home buyer information on his blog: http://firsttimehome.us
Source: http://www.articlesbase.com/real-estate-articles/first-time-home-buyers-its-your-money-on-the-table-4311669.html
]]>
Increase your traffic today just by submitting articles with us, click here to get started.
Liked this article? Click here to publish it on your website or blog, it’s free and easy!
Rate this Article
1
2
3
4
5
vote(s)
0 vote(s)
Feedback
Print
0) {
ch_selected = Math.floor(Math.random()*ch_queries.length);
if(ch_selected == ch_queries.length) ch_selected–;
ch_query = ch_queries[ch_selected];
}
}catch(e){
ch_query = document.title;
}
]]>
Article Tags:
first time home buyers, first time home buyer programs, first time home buyer incentives, first time home buyer loans
Latest Real Estate Articles
More from Greg Cook
Everything You Need to Know about the House for Sale in Surrey BC
Home is where you hang your hat- a saying that tells about how close you are to your own home. A home is a place where an individual or a family dwells and stores personal property, we can say that this place is very essential and our refuge that will protect us from any harm. It is also used to refer to the geographical area whether it be a suburb, town, city or country in which a person grew up or feels they belong.
By: Josh
Finance >
Real Estate
May 26, 2011
Easy Transaction When You Want to Sell House Fast
If you want to sell house quickly easily, an independent company can buy your house quickly for cash without paying a solicitor or estate broker. Therefore you have no outgoing costs to pay. The advantage of choosing such service is that you simply do not need to wait for a few months when you want sell house fast. You can also save mortgage payment costs while the property is on the market if you sell house quickly to them.
By: Jemz Tors
Finance >
Real Estate
May 26, 2011
Buying Your First Home Offers A Lot of Benefits
When you are thinking about buying your first home, you are probably going to be very excited. You might want to know about some of the benefits of home buying.
By: Jeremy Winters
Finance >
Real Estate
May 26, 2011
Buying A New Home Requires Proper Preparation
Buying a new home is a major decision and investment that needs a lot of preparation. In recent years, new houses have been preferred over resale ones owing to the huge incentives offered by home builders.
By: Jeremy Winters
Finance >
Real Estate
May 26, 2011
Selling Your House Quickly – 3 of the Top Methods
Selling your house can be a relatively quick and easy process if you are willing to sell for a reasonable price and can find enough potential buyers. There are a few things you should keep in mind when selling your house, the main one being to be willing to sell for a price that is considerably less then the property’s market value.
By: Jeremy Winters
Finance >
Real Estate
May 26, 2011
First Time Home Buyers – 3 Myths about first time home buyer programs and incentives
With all of the first time home buyer programs and incentives available it’s easy to be confused when you try to sort the information.
As a result, many families who may qualify for one or more of these programs, are leaving “money on the table”.
By: Greg Cook
Finance
Mar 23, 2011
First Time Home Buyers – 3 Signs That Say Buy!
First time home buyers looking for that flashing neon sign that tells them now is definitely the time to buy their first home, might as well be cruising the Strip in Las Vegas in search of the right answer
There are signs flashing everywhere that say “BUY!” or “are you nuts? DON’T BUY NOW!”.
By: Greg Cook
Finance
Mar 22, 2011
Housing Double Dip? O-V-E-R R-A-T-E-D
The recent predictions of a “double dip” in housing has to have first time home buyers wondering if now is the right time to buy their first home.
Maybe it is and maybe it isn’t the right time, but whether or not prices will continue to drop can’t be the only consideration.
By: Greg Cook
Finance >
Real Estate
Mar 09, 2011
The biggest waste of programming on the internet for first time home buyers
In their search to gather information, many first time home buyers are using one of the “how much home do I qualify for” widgets available on many real estate and mortgage websites.
They might as well be using Madame Zola the fortune teller!
By: Greg Cook
Finance >
Real Estate
Mar 09, 2011
Comments on this article [0]
Add new Comment
Related Videos
First-Time Home Buyers Drive Home Sales Up
Bringing a Premature Baby Home for the First Time -…
First Time Home Buyer Programs
Ask a question
Ask our experts your Real Estate related questions here…
200 Characters left
Related Questions
How long does the first time home buyer credit last ?
How long does the first time home buyer credit take?
Will there be a new first time home buyers stimulus program for 2011?
]]>
Related Articles
Home Path Mortgage: Tips For Buying Fannie Mae Bank Owned Foreclosure Homes
Federal Government’s Incentive Program to First Time Home Buyers – Obama’s Stimulus Package
Incentives to Become a First Time Home Buyer Now
A Lot Of Perks For The First Time Home Buyer
Find the Best Lender For You – Tips From a Realtor to Get the Best Lender For Your Home Purchase
Miami Real Estate – Buying HUD Homes
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Mobile Version
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2011 Free Articles by ArticlesBase.com, All rights reserved.
First Time Home Buyer Programs