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Buying A House

3 Easy Steps to Buy a House on Long Island

3 Easy Steps to Buy a House on Long Island

When it’s time to buy a house — on Long Island, or anywhere — you should definitely start the process by doing your own research into what is on the market, what interest rates are, and what your budget is.  After you do some research on your own, you should contact a broker to help you find your home and an attorney to represent you in negotiating your contract and closing the sale.  

Step 1:  Do your own research on the Process of Buying a Home

The U.S. Department of Housing and Urban Development provides tips that will assist you in finding your house, determining your budget and how to finance your home.  Specifically, the Department of Housing and Urban Development provides tips on:

a.    how to assess your ability to purchase a new home

b.    how to search for a new home

c.    how to obtain financing to buy your home, and

d.    the many ways the federal government can help you purchase your home.

Step 2:      Contact a Real Estate Broker

Once you have done your research, you know what you’re looking for, and you know what your budget is, you should contact a real estate agent to help you find your house.  A real estate agent has the tools and training that will make the process of finding your home more efficient.  The real estate agent will do most of the leg work for you, will advise you of open houses you should go to, and will make appointments for you to go see the houses you are interested in.  Once you have found the home you like, your real estate agent will assist you in the bidding and negotiating process. Remember: the seller pays the broker fee.  So, this is essentially a free service for you.

Step 3: Contact a Real Estate Attorney

Now that you found your home and have negotiated the purchase price, it’s time to contact your Real Estate Attorney.  He/she will memorialize your sale agreement in a Contract and will represent you in closing the deal.

Buying your home can be one of the most exciting experiences of your lifetime.  To make it as smooth of an experience as possible, I highly recommend first doing the research to figure out what you want and what you can afford, and then retaining experienced professionals i.e.: a broker and an attorney.  Congratulations and good luck!

When it’s time to buy a house — on Long Island, or anywhere — you should definitely start the process by doing your own research into what is on the market, what interest rates are, and what your budget is. After you do some research on your own, you should contact a broker to help you find your home and an attorney to represent you in negotiating your contract and closing the sale.

Step 1: Do your own research on the Process of Buying a Home

The U.S. Department of Housing and Urban Development provides tips that will assist you in finding your house, determining your budget and how to finance your home. Specifically, the Department of Housing and Urban Development provides tips on:

a. how to assess your ability to purchase a new home

b. how to search for a new home

c. how to obtain financing to buy your home, and

d. the many ways the federal government can help you purchase your home.

Step 2: Contact a Real Estate Broker

Once you have done your research, you know what you’re looking for, and you know what your budget is, you should contact a real estate agent to help you find your house. A real estate agent has the tools and training that will make the process of finding your home more efficient. The real estate agent will do most of the leg work for you, will advise you of open houses you should go to, and will make appointments for you to go see the houses you are interested in. Once you have found the home you like, your real estate agent will assist you in the bidding and negotiating process. Remember: the seller pays the broker fee. So, this is essentially a free service for you.

Step 3: Contact a Real Estate Attorney

Now that you found your home and have negotiated the purchase price, it’s time to contact your Real Estate Attorney. He/she will memorialize your sale agreement in a Contract and will represent you in closing the deal.

Buying your home can be one of the most exciting experiences of your lifetime. To make it as smooth of an experience as possible, I highly recommend first doing the research to figure out what you want and what you can afford, and then retaining experienced professionals i.e.: a broker and an attorney. Congratulations and good luck!

First Time Home Buyer Programs

Peter T. Roach is a New York collection lawyer, who enforces creditors’ rights throughout the state of New York. To receive expert advice on collecting debt, visit http://www.roachlawfirm.com or call Peter T. Roach & Associates, P.C. at 1-800-824-0284.

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Buying A House

Buy a House – 5 Steps to Get You Started

Buy a House – 5 Steps to Get You Started

Are you ready to buy a house? This article focuses on prioritizing your housing needs before you begin shopping for a home.

There are a lot of reasons to buy a home. A home is an asset that over time increases in value. There are always periods when home values diminish but over the long term, there is no single better investment.

A home is also a place to raise your family and adds stability because it encourages families to plan for the future.

Owning a home is a way of investing in your community. It helps improve neighborhoods and provides local economic strength.

Because homeownership is such a positive influence on families and communities, the federal government is active in creating programs through FHA and using tax incentives to encourage buying a home.

Often the most difficult part of buying a home is knowing where to begin, especially for first time home buyers.

Now it is time to focus on deciding your housing needs before you begin your search.

It is far more efficient to determine your personal requirements before you begin your search for a home. Start by thinking about the way you live. Are you a single person? Are you married? Do you have children? Perhaps you have a parent or grandparent living with you. For those whose commute never leaves the front door, a home office is not a luxury. Pet owners have additional considerations such as feeding and bedding areas. Sit down and write out what you think you need regarding space in a home.

Now comes the fun part, listing options. Relax and imagine what you truly want. Jot down whatever comes to mind first, such as a gourmet kitchen, hardwood flooring or a large foyer.

After listing what you need and adding additional features that you would like but are not essential, start to consider your priorities.

Priorities may include lot size and location. Do you want a big yard that may require more upkeep or a smaller yard with less maintenance? Do you like corner lots in a neighborhood or would you prefer to be located in the middle of the block or end of a cul-de-sac? Keep track of ideas regarding lot dimensions and location.

Square footage is a giant consideration. How many bedrooms are important? Is a laundry room better than placing your washer and dryer in the garage? More than one bathroom is convenient? What do you want in a kitchen? Contemplate the number of rooms, the square footage and optional features. Write them down.

Other priorities will include the building style. It is a good feeling to enjoy coming home to a house that is pleasing. You will be drawn to one or two types of homes. Remember to bring along your camera for houses that catch your eye.

Since a neighborhood becomes your local community, pay attention to the surroundings. For households with school age dependents, proximity to schools should be considered. Will your kids be able to walk to school or are they located too far away?

You may also want to think about where you want your home to be in proximity to your job and public transportation. Do you need to be close to the subway or train station? Is the bus how you get to work? Will the location of a certain house increase your commute?

Regarding all these items, establish your minimum requirements. Then build a wish list too. Both checklists are important.

And remember what I say. It is your house and your mortgage. No one is going to care about it more than you.

Above all, decide you are going to have fun while buying a home.

First Time Home Buyer Programs

Kate Ford, author of the entertaining and informative Get Your Best Mortgage Rate breaks through the mysterious code of mortgage lending. Find more of Kate’s articles like this one at Compare Mortgage Interest Rates

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Home Loans

The FHA home loan Process Four easy steps to your FHA loan!

The FHA home loan Process Four easy steps to your FHA loan!

The FHA home loan Process Four easy steps to your FHA loan!

1. Applying for an FHA home loan.

Applying for an FHA home loan through FHAmortgageFHAloan.com is simpler than ever before. We have combined the speed and ease of the Internet with the hands on approach that our FHA home loan applicants have come to expect. Once you apply online for an FHA home loan, you are entered into our database where your FHA home loan is processed. Within 24 hours, your assigned FHA home loan officer will contact you, via e-mail or phone, to schedule your interview.

2. The FHA home loan Interview

During your FHA home loan interview your FHA home loan officer will go through your FHA home loan application to determine your eligibility. If you are unable to be pre-qualified at the time of application, your FHA home loan officer will offer you advice on how to improve your credit situation so that you may become eligible within weeks time. Within 20 minutes you will know the determination of your FHA home loan application! The FHA home loan telephone interview also serves as an excellent opportunity to get acquainted with your FHA home loan officer. Your FHA home loan officer plays an important role throughout the FHA home loan process. Good communication with your FHA home loan officer will increase your chances of FHA home loan pre-approval and speed the processing of your FHA home loan!

3. FHA FHA home loan Processing

The processing of an FHA home loan involves the gathering of documents to verify all information inputted in your FHA home loan application. This includes, but is not limited to; W2’s, paystubs, credit report, bank statements, etc. When your FHA home loan pre-qualification is sent to you (after your interview) it will include a checklist that is specific to your file. This checklist will state all the items that you must submit to your FHA home loan officer in order to receive your FHA home loan commitment!

4. Closing your FHA home loan

The closing is the “end of the line” in obtaining a FHA home loan. At the closing you will sign all FHA home loan documents and take possession of your new home. If you are refinancing, you will not take possession of a new home, but you will get a lower interest rate, cash out, or both!

Apply Now at

http://www.fhamortgagefhaloan.com/

 

FHA loans make it Easy to buy a Florida home.

FHA loans have been helping Florida homebuyers become homeowners since 1934. How does FHA help? The Federal Housing Administration (FHA) – which is part of (HUD), provides mortgage insurance to insure private lenders against loss. The mortgage insurance allows private Florida lenders to lend up to 97% of the purchase price and allows financing with No Minimum credit score requirement for Florida homebuyers.

Easy Qualification – The FHA loan insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you’re likely to find FHA loans with terms that make it easier for you to qualify.

Minimal Down payment Requirements – FHA loan can work with as little as 3% down and those funds can come from a family, grant , or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that there are many Florida down payment assistance programs to help you with the down payment.

Less than A-1 Credit is Okay – The Florida FHA home loan program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage loan lates get approved every day for FHA loans to buy or Refinance homes in. The FHA loan program uses credit quality, not credit score!

Lower Cost Over the Life of the Loan – Florida FHA home loan rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the Florida borrower.

Safeguards for Borrowers Who Get Behind – FHA loans also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, HUD can allow the lender to take past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you’ll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an FHA loan.

Options for Manufactured Housing – Under certain conditions, you can even secure an FHA loan for a Mobile Home or manufactured home using a Florida FHA mortgage loan.

FHA Loans Are Fully Assumable – When you are ready to sell your Miami home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.

The FHA program has evolved since it started in 1934 and now has options for HUD insured loans that fit a variety of different borrowers and situations.

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Answers to Mortgage Questions Whether Refinancing or Buying, We
Deliver Good Answers to Great Questions!

First Time Home Buyer Programs

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Private mortgage insurance (PMI) tips & how it can determine how much house you can afford. Find out how in this video on buying a home.Expert: Brett Staggs Bio: Brett Staggs has been working in the mortgage industry for the past 6 years. He has worked for a title company, a credit reporting company, and two major banks. Filmmaker: Dana Glover
First Time Home Buyer Programs
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