Category Archives: Government Assistance

Buying Your First Home in South Dakota

South Dakota Mortgage Help for First Time Buyers

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First Time Homebuyers in Mississippi

The Mississippi HOYO(Home of your Own) project is directed mainly towards first time buyers.

There are others such as those who are living in condemned housing or participants in a flood area buyout program for example who may also be eligible for the program. People with disabilities or families who have a member who is disabled living with them may be eligible. The household must have enough income to pay the mortgage each month as well as their normal expenses. It will also be necessary to have a sum of money available for the process of buying a house.

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Homebuyers Tips: 10 Things A First Time Homebuyer Should Know Before Buying A Home

This article is the second part of our two-article series on 10 Things A First Time Homebuyer Should Know Before Buying A Home. Let’s get straight into it and discuss tips 5 to 10.

5) The point of points.

Points are a confusing and complicated element of mortgages. Some points are actually hidden costs lenders charge borrowers for the privilege of lending them money. Another type of point is an initial fee borrowers pay to reduce their mortgage’s interest rate. Each point is generally worth 1 percent of the mortgage amount. Analyze carefully the benefits and costs of points before accepting them. Remember, in a mortgage nearly everything is negotiable, including the points.

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10 Things A First Time Homebuyer Should Know Before Buying A Home

Purchasing a home, like getting married or having a baby, is one of those decisions you do not want to rush into. They are all expensive, require a long-term commitment, and although they can potentially be wonderful experiences, can also bring a lot of pain and grief. This is not to say that buying a home is a bad idea. For the right household, buying a home is a sensible and logical thing to do. In most cases it is better than throwing money away at a lease or rental. However, there are things you must understand and do before signing a mortgage. This two-article series will look at 10 things a homebuyer should know before signing on the dotted line of a home purchase contract.

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First-Time Buyers: Why Buy Instead of Rent

Living in your own home is one of those dreams practically everyone has. Unfortunately, as millions have experienced in the last four years, owning a home can also be your worse nightmare. This has brought many to ask why they should buy a home. Why not just rent instead? Good question. Renting a home does have its benefits. You don’t have to worry about many of the headaches that come with home ownership and it gives you the flexibility to get up and go at the drop of a hat.

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IRS and First-Time Homeowner Tax Credits

Assistance for first-time homebuyers comes in several ways. There are grants, a low-interest loans, a down-payment loans, tax deductions and tax credits. This post will focus on the first-time homebuyer credit offered by the Internal Revenue Service, IRS. Although this tax credit is currently only available to people who bought a house in 2008, 2009 and 2010, it seems likely this tax credit will be extended into 2011 and beyond.

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Government Assistance for First Time Home Buyers

american-flag There Is Government Assistance for First Time Home Buyers

Buying a home is the largest purchase you will ever make and it stands to reason you want to get it right the first time. Things like your credit score, income to debt ratio, earnings cap and what cash you have on hand are only the first things you have to think about. If you are considering buying a home for the first time, you are probably worried about saving enough money for the downpayment. Loan fees and closing costs can cause worry as well. You wonder if your credit card debt can be rolled into the loan in order to pay it off and afford you more money to repay your loan. Worrying about the interest rate can cause some sleepless nights, also. However, for the first time home buyer, there is government assistance that can erase all that worry.

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