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Buying

Identifying Your Needs vs. Wants

You already know that determining how much you can afford is one of the first steps to buying a home, but equally essential is creating a list of your needs vs. your wants. Most people get these two confused. A need is something you can’t do without and are unwilling to compromise. (“We need three bedrooms.”) A want is an optional feature that would be nice to have but isn’t a deal breaker.

The Pros and Cons of Buying vs. Building

The time has come and you are ready to invest in a new home. Whether this is your 1st or your 10th home purchase, the options can be overwhelming. Whatever your reasons for moving, one of the first decisions you will need to make is whether to purchase an existing home or visit one of the many builder models to select the floorplan you want to build.

Why do I need to use an agent for my home purchase or sale?

Would you go to court without a lawyer, or invest hundreds of thousands into the stock market without the guidance of a financial planner? Then why leave your biggest asset to chance without the proper guidance and service you can receive from a trained professional?

 

PMI? What the heck is that?

You hear the term PMI thrown around a lot when looking to purchase a home but oftentimes people aren’t quite sure what it is. PMI stands for Private Mortgage Insurance and in a nutshell, is a protection measure for lenders in case you default on your loan and end up in foreclosure. Loans that are backed by the government, FHA and VA loans, for example, are INSURED by the government and if you default on those loans, the government stands in the middle and ensures lenders still get their money.

Little-Known Ways You Can Buy A House With No Down Payment

Can you buy a house with no down payment?

Yes, you can.

“Paying 20% down is, quite frankly, a myth," says Karen Hoskins, vice president at NeighborWorks and bearer-of-great-news. "Most buyers pay only 5% to 10% down — some even pay zero."

The key to finding a no-money-down home loan is finding the right assistance program. And there's no shortage of them if you qualify.

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