Monthly Archives: January 2011

Buying A House

Should I Buy a House Now or Wait?

Should I Buy a House Now or Wait?

As 2009 enters its fourth quarter, many people are asking “Should I buy a house now or wait?”  The National Association of Realtors is running advertising right now asking the question, “Why are you sitting on the fence?” For the cynical out there, you may think that this is a shameless way for the Real Estate industry to drum up business. After a few lean years real estate agents are hungry for a sale, you may think. But still you ask, should I buy a house now or wait?

Well, while it may be true that some agents have dropped a few pounds and have had to tighten their belts just like everyone else, the good agents are keenly aware of the great deals that are out there. They are the ones to turn to help you determine should you buy house now. They are on the phone, sending emails, and educating their clients about what is happening in the industry and in the real estate market.

There are fantastic deals available, and the smart money is investing in these deals as a way to expand their wealth base and take advantage of the opportunities right now, while others are still sitting on the fence. So when you think about should I buy a house now or wait, think about what adding a well-priced home to your financial portfolio will mean to the future wealth of your family.

Is this the bottom of the real estate market? Many want an assurance of this before they decide should I buy a house now or wait. Well, nobody knows for certain, and pundits on both sides of the issue make a strong case for whether or not we have seen the bottom. While it’s interesting to hear what “they” have to say, at the end of the day it is your family’s financial well being and quality of life that should determine should you buy house now. Most often, the bottoms are not recognized until we are well on our way back up and many opportunities are missed.

Affordability: Across the nation for various reasons, prices have declined.  The counties that experienced the greatest increases in prices are now experiencing drops in prices which are starting to look like great buying opportunities. So ask yourself, “Should I buy a house now or wait until things are less affordable?”

Low Interest Rates: True, lending standards have tightened up; however, there are still loans to be made. Buyers are taking advantage of conforming and FHA loans where rates can still be found in the 5% interest range. With FHA financing available in the Orange County area, the increased loan limit of 9,750 is looking especially attractive. Even borrowers with a credit score as low as 580 can consider a home purchase in today’s market. It is best to talk to your lender or mortgage broker to get the most recent information on the loans available to you. So ask yourself, “Should I buy a house now or wait until interest rates increase?”

Government Incentives:  Don’t miss out on this one. Many homeowners have claimed that it is the 00 tax credit offered for 2009 that prompted them to take the step into home ownership. This tax credit expires December 1, 2009 so don’t wait if you want to qualify for this benefit. So ask yourself, “Should I buy a house now or wait until the tax credit expires?”

Mortgage Protection Programs: For those that may be concerned with the viability of their employment, there could be a program to assist with your mortgage payment if you become unemployed. The California Association of Realtors (C.A.R.) offers the Housing Affordability Fund Mortgage Protection Program for first time home buyers who lose their jobs due to layoffs. There has also been mention of some lenders that are offering similar programs so be sure to ask your loan specialist about this option. Also, another insurance program that has always been available is through disability insurance which applies if you become disabled. Be sure to check out all your insurance and “safety net” options so that you can weather out the storm of any unforeseen event. So ask yourself, “Should I buy a house now or wait until my job situation changes?”

Choosing to live the life you want in an area you choose: Do you love your neighborhood, your school district, your commute, your view, your community, the size and “feel” of your house? If you cannot answer with a strong “Yes!” to any of these questions, then now may be the perfect time to step up and live the life you’ve always dreamed of. For the coastal communities of Orange County and Laguna Beach, that means waking up to the smell of the ocean and cool ocean breezes; a year-long temperate climate; great restaurants, entertainment and schools; a short drive or walk to the beach to surf or sun. It’s a lifestyle choice…is it yours? Ask yourself, “Should I buy a house now or wait until I’m ready for the retirement home?”

First Time Home Buyer Programs

Ready to get the latest information on market trends? Getting the right information on the housing tax credit and market trends from a Real Estate Expert that has in-depth knowledge of the Laguna Beach Real Estate Market and the South Orange County Real Estate Market, as well as the integrity to put your interests first is important. Hillary Caston is such as agent. Her no-nonsense style and exceptional negotiating skills have earned her the reputation of the “go to” person for intelligent real estate advice. Visit her site at: www.TheCoastalPropertyExperts.com to see all the latest available properties.

Article from articlesbase.com

Find More Buying A House Articles

Government Grant Programs

Social Services and Income Maintenance Benefits Enrollment Coordination Grants

Administration for Children and Families – To provide funds for benefits outreach and enrollment assistance activities awarded competitively to private, nonprofit organizations to support community pilot projects in communities with a high concentra…

Mortgage Finance

Flroida FHA mortgage Lender offers 97% Financing

Flroida FHA mortgage Lender offers 97% Financing

FHA Mortgages

Purchasing a new Florida home is exciting. Finding the right Florida home for you and your family requires allot work and decision making. However, finding the right FHA mortgage is just as important as finding the right Florida  home.

 Many Florida homebuyers take advantage of FHA loans when purchasing a Florida home. Out FHA mortgage website helps Florida homebuyers understand how FHA can help buy a Florida home.

An FHA mortgage can be an attractive option to many Florida first-time homebuyers and moving up buyers, as the FHA down-payment requirement can be as low as 3.5 percent. However, you don’t need to be a Florida first-time buyer to take advantage of the low down payment options; the only stipulation is that the Florida homebuyer may only have one FHA mortgage at a time.

Florida home buyers and moving up buyers  should know the many advantages of the FHA mortgage programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 2  year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

To take advantage of the FHA program in Florida, visit http://www.fhamortgagefhaloan.com/

Qualifying For a FHA Mortgage

To be approved for a Florida FHA mortgage, you must have stable, predicable income and a satisfactory credit history that shows  your commitment to paying off debts on time.. Also, as a Florida homebuyer you must be able to prove that the total monthly mortgage payment will be less than 35 percent of your before tax monthly income.

 While these qualifications may seem a little stringent, they are actually more lenient than any other Florida mortgage program. The decreased down payment of only 3.5% makes this type of FHA mortgage even more desirable for many Florida homebuyers.

How a FHA Mortgage Works

FHA does not lend the money; it simply insures private Florida mortgage lenders against loss. It is always the decision of the private FHA mortgage lender (a bank, credit union, or savings and loan) to decide whether or not they will approve the FHA home loan request..

 The FHA mortgage program tends to be more forgiving than conventional Florida home loans terms of past credit history. A Florida bankruptcy discharged as little as2  years ago may not stop a homebuyer from buying a Florida home.

Typically, FHA mortgage loans  do not require more than a 3.5% down payment. Unlike conventional mortgagees this money may also be a gift to the Florida homebuyer and does not need to be secured as the Florida homebuyer’s own money. Often, there are “points” associated with FHA mortgages that are usually worth about 1 percent of the total mortgage value. These origination points are paid to FHA mortgage lenders to help lower the interest rate of the mortgage.

Florida mortgage applicants will also have to pay PMI (private mortgage insurance) on the FHA mortgage. PMI is used to ensure that the total amount of the mortgage will be paid to the FHA  lender if the buyer defaults. Usually, a PMI will not?? be put into effect until 20 percent of the Florida  mortgage has been paid.

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/florida/Naples/
http://www.fhamortgageprograms.com/florida/Ocala/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Orlando/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Osprey/
http://www.fhamortgageprograms.com/florida/Palatka/
http://www.fhamortgageprograms.com/florida/Palm-Bay/
http://www.fhamortgageprograms.com/florida/Palm-Beach/
http://www.fhamortgageprograms.com/florida/Palm-Coast/
http://www.fhamortgageprograms.com/mortgage/homeowner-refinance.shtml
http://www.fhamortgageprograms.com/faq/fha.shtml
http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
http://www.fhamortgageprograms.com/mortgage/bad-credit.shtml
http://www.fhamortgageprograms.com/florida/Cape-Coral/
http://www.fhamortgageprograms.com/florida/Clearwater/
http://www.fhamortgageprograms.com/florida/Clewiston/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

Buying A House

Should I Buy a House Now or Wait?

Should I Buy a House Now or Wait?

As 2009 enters its fourth quarter, many people are asking “Should I buy a house now or wait?”  The National Association of Realtors is running advertising right now asking the question, “Why are you sitting on the fence?” For the cynical out there, you may think that this is a shameless way for the Real Estate industry to drum up business. After a few lean years real estate agents are hungry for a sale, you may think. But still you ask, should I buy a house now or wait?

Well, while it may be true that some agents have dropped a few pounds and have had to tighten their belts just like everyone else, the good agents are keenly aware of the great deals that are out there. They are the ones to turn to help you determine should you buy house now. They are on the phone, sending emails, and educating their clients about what is happening in the industry and in the real estate market.

There are fantastic deals available, and the smart money is investing in these deals as a way to expand their wealth base and take advantage of the opportunities right now, while others are still sitting on the fence. So when you think about should I buy a house now or wait, think about what adding a well-priced home to your financial portfolio will mean to the future wealth of your family.

Is this the bottom of the real estate market? Many want an assurance of this before they decide should I buy a house now or wait. Well, nobody knows for certain, and pundits on both sides of the issue make a strong case for whether or not we have seen the bottom. While it’s interesting to hear what “they” have to say, at the end of the day it is your family’s financial well being and quality of life that should determine should you buy house now. Most often, the bottoms are not recognized until we are well on our way back up and many opportunities are missed.

Affordability: Across the nation for various reasons, prices have declined.  The counties that experienced the greatest increases in prices are now experiencing drops in prices which are starting to look like great buying opportunities. So ask yourself, “Should I buy a house now or wait until things are less affordable?”

Low Interest Rates: True, lending standards have tightened up; however, there are still loans to be made. Buyers are taking advantage of conforming and FHA loans where rates can still be found in the 5% interest range. With FHA financing available in the Orange County area, the increased loan limit of 9,750 is looking especially attractive. Even borrowers with a credit score as low as 580 can consider a home purchase in today’s market. It is best to talk to your lender or mortgage broker to get the most recent information on the loans available to you. So ask yourself, “Should I buy a house now or wait until interest rates increase?”

Government Incentives:  Don’t miss out on this one. Many homeowners have claimed that it is the 00 tax credit offered for 2009 that prompted them to take the step into home ownership. This tax credit expires December 1, 2009 so don’t wait if you want to qualify for this benefit. So ask yourself, “Should I buy a house now or wait until the tax credit expires?”

Mortgage Protection Programs: For those that may be concerned with the viability of their employment, there could be a program to assist with your mortgage payment if you become unemployed. The California Association of Realtors (C.A.R.) offers the Housing Affordability Fund Mortgage Protection Program for first time home buyers who lose their jobs due to layoffs. There has also been mention of some lenders that are offering similar programs so be sure to ask your loan specialist about this option. Also, another insurance program that has always been available is through disability insurance which applies if you become disabled. Be sure to check out all your insurance and “safety net” options so that you can weather out the storm of any unforeseen event. So ask yourself, “Should I buy a house now or wait until my job situation changes?”

Choosing to live the life you want in an area you choose: Do you love your neighborhood, your school district, your commute, your view, your community, the size and “feel” of your house? If you cannot answer with a strong “Yes!” to any of these questions, then now may be the perfect time to step up and live the life you’ve always dreamed of. For the coastal communities of Orange County and Laguna Beach, that means waking up to the smell of the ocean and cool ocean breezes; a year-long temperate climate; great restaurants, entertainment and schools; a short drive or walk to the beach to surf or sun. It’s a lifestyle choice…is it yours? Ask yourself, “Should I buy a house now or wait until I’m ready for the retirement home?”

First Time Home Buyer Programs

Ready to get the latest information on market trends? Getting the right information on the housing tax credit and market trends from a Real Estate Expert that has in-depth knowledge of the Laguna Beach Real Estate Market and the South Orange County Real Estate Market, as well as the integrity to put your interests first is important. Hillary Caston is such as agent. Her no-nonsense style and exceptional negotiating skills have earned her the reputation of the “go to” person for intelligent real estate advice. Visit her site at: www.TheCoastalPropertyExperts.com to see all the latest available properties.

Article from articlesbase.com

Mortgage Finance

Flroida FHA mortgage Lender offers 97% Financing

Flroida FHA mortgage Lender offers 97% Financing

FHA Mortgages

Purchasing a new Florida home is exciting. Finding the right Florida home for you and your family requires allot work and decision making. However, finding the right FHA mortgage is just as important as finding the right Florida  home.

 Many Florida homebuyers take advantage of FHA loans when purchasing a Florida home. Out FHA mortgage website helps Florida homebuyers understand how FHA can help buy a Florida home.

An FHA mortgage can be an attractive option to many Florida first-time homebuyers and moving up buyers, as the FHA down-payment requirement can be as low as 3.5 percent. However, you don’t need to be a Florida first-time buyer to take advantage of the low down payment options; the only stipulation is that the Florida homebuyer may only have one FHA mortgage at a time.

Florida home buyers and moving up buyers  should know the many advantages of the FHA mortgage programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 2  year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

To take advantage of the FHA program in Florida, visit http://www.fhamortgagefhaloan.com/

Qualifying For a FHA Mortgage

To be approved for a Florida FHA mortgage, you must have stable, predicable income and a satisfactory credit history that shows  your commitment to paying off debts on time.. Also, as a Florida homebuyer you must be able to prove that the total monthly mortgage payment will be less than 35 percent of your before tax monthly income.

 While these qualifications may seem a little stringent, they are actually more lenient than any other Florida mortgage program. The decreased down payment of only 3.5% makes this type of FHA mortgage even more desirable for many Florida homebuyers.

How a FHA Mortgage Works

FHA does not lend the money; it simply insures private Florida mortgage lenders against loss. It is always the decision of the private FHA mortgage lender (a bank, credit union, or savings and loan) to decide whether or not they will approve the FHA home loan request..

 The FHA mortgage program tends to be more forgiving than conventional Florida home loans terms of past credit history. A Florida bankruptcy discharged as little as2  years ago may not stop a homebuyer from buying a Florida home.

Typically, FHA mortgage loans  do not require more than a 3.5% down payment. Unlike conventional mortgagees this money may also be a gift to the Florida homebuyer and does not need to be secured as the Florida homebuyer’s own money. Often, there are “points” associated with FHA mortgages that are usually worth about 1 percent of the total mortgage value. These origination points are paid to FHA mortgage lenders to help lower the interest rate of the mortgage.

Florida mortgage applicants will also have to pay PMI (private mortgage insurance) on the FHA mortgage. PMI is used to ensure that the total amount of the mortgage will be paid to the FHA  lender if the buyer defaults. Usually, a PMI will not?? be put into effect until 20 percent of the Florida  mortgage has been paid.

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/florida/Naples/
http://www.fhamortgageprograms.com/florida/Ocala/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Orlando/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Osprey/
http://www.fhamortgageprograms.com/florida/Palatka/
http://www.fhamortgageprograms.com/florida/Palm-Bay/
http://www.fhamortgageprograms.com/florida/Palm-Beach/
http://www.fhamortgageprograms.com/florida/Palm-Coast/
http://www.fhamortgageprograms.com/mortgage/homeowner-refinance.shtml
http://www.fhamortgageprograms.com/faq/fha.shtml
http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
http://www.fhamortgageprograms.com/mortgage/bad-credit.shtml
http://www.fhamortgageprograms.com/florida/Cape-Coral/
http://www.fhamortgageprograms.com/florida/Clearwater/
http://www.fhamortgageprograms.com/florida/Clewiston/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

Mortgage Finance

Flroida FHA mortgage Lender offers 97% Financing

Flroida FHA mortgage Lender offers 97% Financing

FHA Mortgages

Purchasing a new Florida home is exciting. Finding the right Florida home for you and your family requires allot work and decision making. However, finding the right FHA mortgage is just as important as finding the right Florida  home.

 Many Florida homebuyers take advantage of FHA loans when purchasing a Florida home. Out FHA mortgage website helps Florida homebuyers understand how FHA can help buy a Florida home.

An FHA mortgage can be an attractive option to many Florida first-time homebuyers and moving up buyers, as the FHA down-payment requirement can be as low as 3.5 percent. However, you don’t need to be a Florida first-time buyer to take advantage of the low down payment options; the only stipulation is that the Florida homebuyer may only have one FHA mortgage at a time.

Florida home buyers and moving up buyers  should know the many advantages of the FHA mortgage programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 2  year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

To take advantage of the FHA program in Florida, visit http://www.fhamortgagefhaloan.com/

Qualifying For a FHA Mortgage

To be approved for a Florida FHA mortgage, you must have stable, predicable income and a satisfactory credit history that shows  your commitment to paying off debts on time.. Also, as a Florida homebuyer you must be able to prove that the total monthly mortgage payment will be less than 35 percent of your before tax monthly income.

 While these qualifications may seem a little stringent, they are actually more lenient than any other Florida mortgage program. The decreased down payment of only 3.5% makes this type of FHA mortgage even more desirable for many Florida homebuyers.

How a FHA Mortgage Works

FHA does not lend the money; it simply insures private Florida mortgage lenders against loss. It is always the decision of the private FHA mortgage lender (a bank, credit union, or savings and loan) to decide whether or not they will approve the FHA home loan request..

 The FHA mortgage program tends to be more forgiving than conventional Florida home loans terms of past credit history. A Florida bankruptcy discharged as little as2  years ago may not stop a homebuyer from buying a Florida home.

Typically, FHA mortgage loans  do not require more than a 3.5% down payment. Unlike conventional mortgagees this money may also be a gift to the Florida homebuyer and does not need to be secured as the Florida homebuyer’s own money. Often, there are “points” associated with FHA mortgages that are usually worth about 1 percent of the total mortgage value. These origination points are paid to FHA mortgage lenders to help lower the interest rate of the mortgage.

Florida mortgage applicants will also have to pay PMI (private mortgage insurance) on the FHA mortgage. PMI is used to ensure that the total amount of the mortgage will be paid to the FHA  lender if the buyer defaults. Usually, a PMI will not?? be put into effect until 20 percent of the Florida  mortgage has been paid.

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/florida/Naples/
http://www.fhamortgageprograms.com/florida/Ocala/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Orlando/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Osprey/
http://www.fhamortgageprograms.com/florida/Palatka/
http://www.fhamortgageprograms.com/florida/Palm-Bay/
http://www.fhamortgageprograms.com/florida/Palm-Beach/
http://www.fhamortgageprograms.com/florida/Palm-Coast/
http://www.fhamortgageprograms.com/mortgage/homeowner-refinance.shtml
http://www.fhamortgageprograms.com/faq/fha.shtml
http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
http://www.fhamortgageprograms.com/mortgage/bad-credit.shtml
http://www.fhamortgageprograms.com/florida/Cape-Coral/
http://www.fhamortgageprograms.com/florida/Clearwater/
http://www.fhamortgageprograms.com/florida/Clewiston/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

Find More Mortgages Articles

First Time Home Buyer Programs

Free Money In Florida for First Time Home Buyers – Understanding the SHIP Loan Program

Free Money In Florida for First Time Home Buyers – Understanding the SHIP Loan Program

Understand the S.H.I.P. Loan Program for First Time Home Buyers


While the economy has been tough for the housing market, new homeowners may have had the toughest time. In most parts of the country, the housing supply and reduced prices made purchasing a new home now a good idea. Unfortunately, many lenders also started cracking down on their lending practices. They required higher income levels, increased the interest rates, and started asking for larger down payments. People from lower income backgrounds found it increasingly challenge. In Florida, however, a no money downpayment loan for first time home buyers is making things easier.


Background on the Program


This no money downpayment loan for first time home buyers is available through a program known as S.H.I.P which stands for State Housing Initiative Partnership. The program is available in every county in Florida. Each county receives state funds which they, in turn, use to promote home ownership in their area, particularly among those with the lowest income and the greatest need for financial assistance. However, these government assisted home loans are not just given to everyone. Individuals do need to meet specific requirements.


The Down Payment Assistance Program


Buyers must meet certain qualifications if they are going to receive the no money downpayment loan for time time home buyers. Because the program is for low income families, the household income must not equal more than 120% of the AMI (Area Median Income). Because the AMI varies greatly between Florida counties, this is the most effective way of setting income limits for the program. To prevent buyers from moving into counties where they will be eligible, a one year residency requirement in that county is required as well.


Additionally, buyers are asked to secure the mortgage financing and to complete an education seminar provided free through the S.H.I.P program that educates them on the facts about purchasing a home for the first time. Individuals must also contribute either 1% of the total home?s sale price of ,000 to the purchase as a sign of commitment to honor this partnership.


The buyer isn?t the only one who must meet specific qualification requirements to receive government assisted home loans. The property must also qualify. Obviously, it must be located in the same county. However, the sale price cannot be higher than 9,000 to qualify. That makes sense because the maximum assistance provided is ,000. The total amount homeowners will be eligible for depends on their household income. Another requirement is that the combination of the two loans must not be more than 105% of the home?s appraised value ? this rule is to protect the home buyer from paying too much for a property.


Reasons for Refusal


Following May 2008, a few additional requirements were added to the program to ensure the funds were being used to assist the most eligible individuals. The credit score requirement of 620 was added. However, individuals with lower credit scores can be eligible if they do not have any garnishments, past due revolving accounts, a bankruptcy in the last two years, or past due rent within the last 12 months. Applicants with credit scores below 620 are approved at the discretion of the program, and those are just some of the examples which could disqualify a prospective home buyer.


The Benefits of the Program


The no money downpayment loan for first time home buyers is made to the owners at the time of their closing on the property. While called a loan, it doesn?t work as a loan. Instead, they carry a 0% interest rate so the amount needed for the down payment and borrowed will not increase. Additionally, the loan will be completely forgiven if the homeowners are still in it fifteen years later.


Obviously, this has a tremendous positive impact on low-income families who want to purchase their first home but who may find saving up a 10% or down payment to be nearly impossible. After all, a 10% down payment for a 0,000 home would be ,000 which is a lot of money for anyone to save up.


By forgiving the loan after fifteen years, the program uses these government assisted home loans to encourage people to buy a home, take care of the home, and live in it. After all, purchasing a home is usually a solid investment, even despite the recent slump in the market.


For potential home owners who meet the program?s requirements, it can provide a wonderful opportunity they may not have otherwise had.

First Time Home Buyer Programs

For information on FHA, VA, USDA in all 50 states, SHIP Program in the state of Florida and up to date Mortgage rates visit Home Loans Made Easy Online.com

Article from articlesbase.com

Buying A House

How To Buy A House With A Bad Credit Rating

How To Buy A House With A Bad Credit Rating

How to buy a house with a bad credit rating is not as hard as most people think. If you think that you need a lot of money to buy a house with bad credit, you are wrong. You can always use zero money down methods to buy a house with bad credit, and you can use the house to live in, or for commercial use. Let me walk you through some of these basic steps to this method.

What are you going to need to buy a house zero money down? I am going to explain this all as if you know nothing about this, nor do you have any prior knowledge, EASY!

First of all you will need to understand that many, many, many people all over the world are buying properties every single day with no money down, and with bad credit. This of course means that you can do this too! All it takes a little spine to do it, and I think that you most likely can come up with a little courage to spare somewhere.

On of my close friends recently came to me and asked me if I would like to sell him one of my properties on a contract for deed, or a lease with an option to buy. So I told him that being good friends all they way back to little league baseball, I told him I would be more then happy to sit down with him and discuss some options to get him into one of my many homes. (He was looking to live in this house.)

About a week later I sat down with him and we had a honest conversation about me selling him one of my homes. Now, my friend didn’t know much about buying a house, he has never done anything like this before. I simple explained to him that I was willing to sell him a home for ,000 dollars and that I was going to give him a 25 year amortization. (for those of you with no prior knowledge, amortization means life of note-loan) At 8.5% interest he had a hard time saying no to me.

 

We both agreed to the terms that we had discussed for him to buy a house with bad credit. Now that we have a buyer and a seller what is next? I went on to write the contract.

Now we need to write the contract using the terms of the agreement, and we both need to sign it in front of a notary. ( you can find a notary at many local banks) You need to have the third party notary so that if at some point the contract is brought before a Judge ( which can and in some cases will happen) the third party notary will legitimize the contract, play it safe so to speak.

The links in this article are going to take you to a web page where you can buy a program that will give you a Contract Writer. ( The contract writer will allow you to write contract for deed, or lease option contracts and many other seller financing contracts for buying a house with bad credit. I don’t remember if it mentions that you also get about 5 different courses on how to buy properties with zero money down)

I use this contract writer to buy properties, and I do so with bad credit. Take a look at the program on the page following the link. I highly recommend it for anyone who wants to buy a house with bad credit. Use the methods that the program teaches you, and use the contract writer to write your contracts! Enjoy!

Learn more about writing a contract made easy here: <a target=”_new” rel=”nofollow” rel=”nofollow” onclick=”javascript:_gaq.push([‘_trackPageview’, ‘/outgoing/article_exit_link’]);” href=”http://www.squidoo.com/Seller_Financing_Contract“>http://www.squidoo.com/Seller_Financing_Contract”>http://www.squidoo.com/Seller_Financing_Contract</a>

First Time Home Buyer Programs

Learn more about writing a contract made easy here: http://www.squidoo.com/Seller_Financing_Contract

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