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STOP PAYING RENT

 
 

DON’T PAY YOUR LANDLORD ANOTHER DOLLAR

We all dream of owning our own homes and to stop paying rent. It’s easy to feel trapped in a space that’s not your own. However, you don’t have to feel trapped forever. It doesn’t matter how long you’ve been renting or what your financial situation may be – with a few tips, we hope that you’ll be able to begin your journey to becoming a homeowner.

 

YOU CAN BUY A HOME WITH MUCH LESS THAN YOU THINK

Most renters don’t struggle meeting a monthly payment. The bigger obstacle is accumulating enough of a lump sum for a down payment. However, local and federal government programs (like first time home buyer programs) exist to help people enter the housing market. Your Real Estate agent should be informed and knowledgeable about these programs so they can help you go over all the options.

 

LENDERS CAN SOMETIMES HELP WITH CLOSING COSTS

If you don’t have enough saved for a down payment, and you are debt free and own an asset (like a car) free and clear, your lender may be able to include the down payment in your loan by securing it against that asset.

 

SELLERS MAY BE ABLE TO HELP YOU FINANCE

Some sellers are willing to hold a second mortgage for you as a seller take-back. If the seller becomes your lender in this case, you would pay the seller monthly installments instead of paying them a lump sum.

 

PERFECT CREDIT IS NOT ABSOLUTELY NECESSARY

If you can provide more than the minimum down payment, or secure a loan with equity, many lenders will still consider you for a mortgage.

 

GET PRE-APPROVED BEFORE HOME SHOPPING

This process is easy and can give you peace of mind when you’re shopping for homes. Experts can obtain written pre-approval, at no cost or obligation to you, quite easily – it can even be done over the phone. Once a lender qualifies you, they will provide a written document of pre-approval. This will certify that you already qualify for the mortgage at a certain level. This will streamline the buying process and could make your offer stand out to sellers.

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