Where to start?? You can drive around looking at FOR SALE yard signs. But, if you call the phone number on the sign, you'll be speaking with the listing agent who has a contract with the seller of the home to get the very best price for the seller at the best possible terms and conditions for the seller.
We believe that home buyers benefit by working with a real estate agent who works for the very best price, terms and conditions for the home buyer. First time home buyers have no experience. Even if you have family or friends to call on for advice, they probably have experience with only one or two home purchases or sales. Our agents have the experience of HUNDREDS of home sales from which to benefit you in your home purchase.
Click images for larger view.
Laurel offers a variety of homes for First Time Home Buyers.
WHICH MORTGAGE LOAN IS BEST FOR ME??
First time home buyers are not familiar with the differences between lenders and may not get the rate or terms of the mortgage loan that you should. We're familiar with lenders, loans, rates, conditions and all aspects of mortgage loans. We'll make sure you get pre-qualified and approved in the shortest period of time with the best terms and conditions available.
FHA Insured Home Loans
The most important program for first time home buyers is the FHA insured home loan. It is especially helpful to first time buyer with limited funds because it permits home buyers to finance a part of their closing costs. FHA loans require that the buyer contribute at least 3% of the purchase price to the costs of buying a home, meaning that one a $100,000 purchase, the buyer will need $3000 of their own funds. This can be tricky because in some areas closing costs plus down payment are more than $3000 and the seller has to make a significant contribution. However, our Home Finders agents are skilled at writing contracts that will permit buyers to purchase a home
with a minimum amount of cash.
VA Loans
If you have VA home financing benefits, you are, indeed, fortunate. The VA loan is probably the very best loan available to home buyers. This type of loan permits home buyers to purchase and finance a home with no money from the buyer in the transaction. First, VA buyers can finance a home with NO MONEY DOWN. Secondly, VA buyers can receive a contribution from the seller that will pay ALL of
the closing costs. Our agents are skilled with writing VA loans and expect our VA buyers to buy with no money of their own in the transaction.
THE IMPORTANCE OF A GOOD CREDIT REPORT
While FHA and VA are fairly permissive with respect to your credit report, the first time buyers programs require a good credit report and adhere strictly to the amount of money a buyer can borrow depending on their income and debt ratio. If you have had late payments within the most recent year, you may not be eligible for the first time buyer program benefits.
Bankruptcy
If you've filed for bankruptcy protection, the guidelines require a two year wait following discharge to obtain a mortgage loan. You must have established new credit and also have no late payments following the bankruptcy.
A GOOD BUYER'S AGENT IS YOUR BEST RESOURCE FOR A SMOOTH HOME PURCHASE EXPERIENCE
