It is a dream we all have - to own our own home and stop paying rent. But you might fee trapped, you might fee like you are stuck in the renter’s rut with no way of rising up out of it and owning your own home. Well, the truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. Consider the following points:
You CAN buy a home with much less down than you think
You CAN ask the Seller to pay your closing costs
You CAN buy a home even if you have problems with your credit rating
You may be able to find a seller to hold a second mortgage for you (that is called “owner financing”)
You CAN & SHOULD get pre-approved for a home loan. You might think that you don’t qualify, but you won’t know for sure if you don’t ask. There are so many different loan programs available for all types of borrowers - you own it to yourself to inquire about your eligibility. There is no cost or obligation to make the inquiry. If you don’t qualify right away, your loan consultant can help you to reach that goal by creating an action plan (things that you would have to bring in order to qualify for a home loan). You might be only a few steps away, so take the time to explore your options now! If you don’t know where to go and who to ask, just call or email us, we are glad to help.
There are some other financial benefits of being a homeowner. Watch for our next blog!