What are good choices for 1st home buyers?
440518
Whenever you do something for the first time, it's good to seek professional advice.  All the better when you do not have to pay for it.   In the case of purchasing your first home, there are many factors to consider (condo, coop, single family home, duplex, multifamily home).  Much of that will be answered by your budget.  Remember Location, Location, Location.  Buy in the best location for resale purposes.  \n\nNow that you've narrowed things down a bit, ask friends or visit open houses and find a good realtor in your area.  Find an experienced one (usually, they will have been in business for a number of years and do it full time).  Now that you have a good realtor, work with them.  They want to make a sale and the seller is the person that pays the broker.\n\nReal Estate Agents are up on the latest developments in mortgages and finance.  They will be able to tell you about first time buyer programs, adjustble rates etc. \n\nGood luck.  I believe owning property is the best thing you can do to protect your future.
72496
BUYIN HOME IN ALBANY IS A GOOD OPTION.THE HOUSE OVER THERE ARE STILL LESS EXPENSIVE AS COMPARED TO REST OF THE STATE AND THEY ARE CATCHIN UP PRETTY FAST.SO IF YOU BUY A HOUSE NOW YOU CAN BUILD UP SOME EQUITY REALLY FAST AND CASH IT LATER IF YOU WANT TO.I'M SAYIN THIS FROM EXPERINCE SINCE I'M A REAL ESTATE AGENT IN NY.
926918
Try to work on repairing your credit. If you go apply for a home loan they will tell you what you need to do to get your credit repaired. A good size down payment will also help when you go to buy a home. There are programs to help first time homeowners through FHA and HUD. It will take money and time to buy a home but it can be done with the right mortgage company.
677153
West Palm Beach. To move and purchase a home will be worth your investment as compared to other cities and counties in Florida.  If you are not considering you move as an investment and then send it to me, I'll do it for you. \n\nhttp://www.palmbeachfl.com/
1168787
Depends on what type of properties your looking into. If you want to shoot me an Email on whether your looking into a mixed-use property, hotel, multi-family, apt. complex, auto repair shop, etc... I will be happy to give you an idea.
1006268
check to see if your state has a first time home buyers grant. these are given to encourage people to stay in their state for a minimum of two years. Look it up.
29088
In order to get a 1st mortage without Mortgage Insurance (which is a non-tax deductable insurance policy you may monthly to insure the lender in the event you walk away from the loan), the loan amount cannot exceed 80% of the purchase price.\n\nYou can either put down 20%, or get a 2nd mortgage to cover the difference between what you have to put down and the remainder to keep that 1st at 80%.\n\nIf you can put down 20%, great!  You should.  If you don't have that, you can go with 10% or 5%.  Some places will allow you to finance 100% of the purchase price, as a 80% 1st and a 20% 2nd, but the rates are typically higher.\n\nAvoiding mortgage insurance (sometimes called "M.I.") is your best bet, because it doesn't benefit you in any way, shape, or form.  In most cases, the payment you will make on a 1st and 2nd will be the same as, if not slightly lower, than the just the payment on the 1st plus mortgage insurance.\n\nRemember that you'll have closing costs, too.  It is in your best interest to shop around for rates, just don't take the first quote you're given.  Do not allow your credit to be pulled unless you have decided to do a transaction with that particular company.  Credit inquiries will lower your score for several months, and might bump you out of a good rate or program.\n\nJealously guard your credit!
249681
Primary home has lower down payment and lower interest rate than investment property. If you are a first time home buyer, ask your bank about "First Time Home Buyer" programs. These programs help pay your down payment and give you even lower interest rates saving LOTS of money over the long haul. Consider getting a 15-year fixed rate mortgage over a 30-year and save 50% in interest over the long run. This translates to a savings of perhaps $100,000. It also builds equity much faster meaning you get more money when you sell. It costs a little more per month but is WELL worth it.
40646
Property is the best investment,so if you've got the financial ability buy two houses.You can't go wrong.
33185
In certain circumstances builders may offer incentives to buyers in general.  They may be in the form of allowances for closing costs or improvements to your new home.  \n\nAs a first time homebuyer with no mortgage history you are the greatest risk to a lending institution especially if you seek to borrow 100% of the price of your new home when purchasing.\n\nThe best step to take is seek the assistance of a mortgage professional who can provide you with multiple solutions to your lending needs and answer your many questions concerning your first home purchase.  \n\nEmail me and I'll send you a free Homebuyers Handbook in .pdf format.
475753
My husband and I were faced with the question to build our first home, or just buy.  After talking with plenty of friends who have or are building their home, and doing some research on it - we decided to buy a brand new home instead.  \n\nThe biggest complaints I heard was getting all those permits... water,  sewer, utilities, building... the list goes on.  (Where I live - which is cheap compared to most places, each permit is no less than 500$)\n\nI don't want to discourage you though... perhaps you have a bit more patience than us!  I would just do all the research you can do for the area you live in.  Ask around.
137388
I just did this recently! I will be first to tell you it is not as scary/stressful or hard as some will tell you.\nFirst find a mortgage broker. If you can find one like our guy, you're good. You give him your info, (name, social security number etc.) We told the broker that we wanted to know EXACTLY how much money we would be approved for prior to looking for a house.That way we weren't looking at stuff we couldn't afford.\nHe called us and gave us our amount and told us to go find a house.he also suggested a real estate agent, which we made an appointment with.\nMeanwhile we looked online and got those real estate books you see everywhere. We found a house on our own prior to even meeting the agent and when we went to see her it wasn't one of hr houses but she called the agent that did have it listed and we went and looked at it.Said we wanted it, and then the agent and the broker did the rest of the work and all we had to do was keep checking with them , calling them to see what the next step was.Most agents/brokers know you are a first time buyer and will help you along in the process, they know how hard things can be. Although , the hardest part is actually finding a house you want. If you have a spouse, you'd be amazed at what you 2 will argue about.(my husband got all annoyed with me when I said I wanted something that was already wallpapered- and he wanted painted walls because wall paper peels-whatever- that's just how stupid it can get)\n1 month later we bought it and moved in for around 400 dollars.We don't have the greatest credit in the world either. To break down house hunting here you go:\nLook within your price range.\nget a real estate agent who will ask for the world. You want the seller to pay closing costs. \nIf it's you by yourself buying, or with someone else, then sit down and decide EXACTLY what you NEED in a house.What you want, and what you can live with/without. This will be your home for a while you are going to want to have certain things when you are paying that kind of money out.\n\nMy husband could not live without a garage.I wanted a 2 story, and we both knew we did not want to live in a subdivision. Not only did the house we pick have a 2 car garage in the front of the house, it had a 2 car outbuilding/garage in the back, a hot tub, and a playhouse in the backyard that looks exactly like the real house.\n When I say get an agent who will ask for the world, I mean just that. This house did not come with the playhouse,and they wanted a certain amount for it, we offered about 20,000 less than what they wanted, and told them we wanted the playhouse, and we also wanted them to leave the fridge, stove, dishwasher, and an upstairs airconditioning unit, not to mention we wanted them to pay all of the closing costs. of course they said "no" but they didn't just say no flat out, they said "we want what we asked for the house, but we will let you keep all the things you asked for, plus the playhouse and we will pay 80% of the closing costs." We tacked the rest of the closing costs onto the mortgage and we were good to go.\n\nI know you probably don't live in my area, and I am not sure how the schemantics of it work, but if you are interested in knowing the name of our broker, he'd be happy to contact you.He asked us to put his name out there and he is relatively new, so he is anxious to please. Of course I'm not giving you his name on here but if you are interested drop me a note, by editing your question and saying you are interested in who he is.\n\nItried to email you but no luck, email me if you get a chance, and I will give you that.
913295
Easy, as much as you can afford!, \n\nAt the minimum I would suggest no less than 25% but the more you put on, the less interest you will pay in the long run and you will be mortgage free years ahead of schedule!\n\nWhen we brought our first house we put every cent of savings we had on to the deposit (dont be fooled going for the minimum payment, it adds thousands to the interest!)\nwe also went for the shorter term (25 years instead of 30) to help force us to pay it off quicker (you can always re-mortgage if you get in the poo).\nAnd then we proceeded to put 50% of our income on it for the first 3 years, we have now lowered our payments as we are traveling and renting the house out, but once we return we will put the payments back up.
572081
Get a mortgage BROKER (this person will help you decide, based on income,etc, what type of mortgage you should consider and then, on your behalf, go out and look for a good mortgage to suit your needs.) As a first time home buyer it can be daunting to talk to different bankers/lenders - best you go to a broker - it won't cost you more...and you will get lots of help.\n\nAlso, go to the www.HUD.gov website. They have lots of information for buyers/sellers.  Realty Companies have this info but they give it their slant because they want your business, but I would go to this HUD site first and check out, at a minimum: glossary of terms used in real estate; Common Questions/Answers for FIRST-TIME homebuyers, 9 steps to buying a home; consumer information.  If they don't have it, check or google: Home Inspection(s).  The site also has info on mortgages.\n\nSome sites even have mortgage calculator - it will help you determine how much home you can afford. For example: homegain.com or similar.\n\nInterest rates are going up right now and they do not believe that it will go down anytime soon. Sales of homes are down - even in Florida especially as 1 June (hurricane season) approaches.  \n\nSuggest you check out these websites - check out a book from the library on buying a new home - questions to ask - what to be careful of.  Govt or National Assoc sites are beter to consult as they are not supporting one company over another.\n\nALSO, as it is your first homem, strongly recommend you pre-qualify before you start looking - this will tell you how much house you can truly afford.  Remember, when buying a home that it isn't just the monthly house/mortgage payment you will have to afford, but the utilities, problems that come up (that when you are renting the rental company might normally fix), taxes, insurance,etc.  So give yourself some room\n\nConsider looking at foreclosures. When making the offer asking that the seller cover closing costs or help in thema seller is motivated to sell they might accept or split the difference)  A  motivated seller is one that has had the home on the mkt a while.  Don't forget contingencies: contingent on an inspection (which you will pay and select inspector --- make sure it is a 10-point inspection - it will cost you a couple hundred dollars, but it will be worth every penny).  What will convey - if the appliances won't convey, you will have to take that into account for expenses.  If you are planning on living thre a while - school district? taxes? etc.....\n\nRealtor: make sure you get a BUYER AGENT (i.e. the agent will represent YOU and only you).\n\nGood luck and happy hunting.....and remember the realty mantra: Location,location,location
191033
The following  link will help you out. It has many different calculators on it pertaining to home buying. It gives you "How much can I afford" and "How much can I borrow" info as well as things like "Rent vs. Buy" options.\n\nGood luck with your home search!!
1183730
The best time to purchase a house is when you're financially ready to do so.  Pay off all other debt, have a solid emergency fund in place and save up a good down payment. Purchase a home where your house payment is no more than 25% of your take-home pay on a fixed-rate (preferrably 15 yr) mortgage.\n\nDepending on where you live, you may want to wait until the housing bubble pops and prices have cooled off a bit.
199907
Try HUD homes and foreclosures...sometimes they need a little bit of work but you can really get a good deal.