Do You Qualify To Buy? Are You Really Getting The Best Loan Available?
Ever Served In The Military? What About Rent-To-Own Programs?
Taking the right steps on buying a home will save you a lot of money and headaches! The 1st step in the home buying process is finding the right loan. This is the #1 way to save money because the wrong lone could cost you thousands of dollars over the lifetime of your mortgage. Depending on the type of loan you qualify for can determine how much down payment you need, how much you can buy and your monthly mortgage payment.
Rates and programs change constantly. Your state, as well as the government, have different programs for 1st time buyers, military/VA buyers, and FHA or Conventional buyers. Some of these programs can get you into a home with '0' or very little down. Several states, including Washington, help buyers get into a home by funding part or all of their down payment and qualifying is much easier than you would think.
Questionable Credit - Many loans available today don't require perfect credit. In fact many are surprised they can qualify even with questionable credit, lower credit scores, past bankruptcy or foreclosure! The easiest way to find out if you can qualify for a home loan is to speak with one of our preferred lenders. It's free to find out & if for whatever reason you don't qualify you'll at least know what you need to do to buy later.
You Only Need $1000 To Buy - Washington state has several zero down grants available to buyers. You don't have to be a 1st time buyer or have great credit to qualify. In most situations you only need $1000 to buy a home in today's market. Here's how it works:
- Buyers usually need 3% of a homes sales price as a down payment and the seller can't help contribute to that. Luckily In Washington State they offer down payment assistance allowing no money out of pocket for your down.
- Separate from a down payment a buyer needs an average of 3% for closing costs. These are fees associated with title/escrow, taxes, insurance... This portion of fees can be paid by the seller & we usually can get that negotiated in the offer.
- Lastly you'll need earnest money. That's an average of about $1000. This basically puts a home on layaway and keeps the owner from selling the home to another buyer. It also keeps you, the buyer, from changing your mind for no reason or they could risk losing that $1000. This money is yours and used as part of any closing costs not covered in the sale. If anything is left over it's refunded back to you.
Military, Active & Prior Service - You probably already qualify using your VA benefits even if you used them before. Right now those benefits get you into a home with '0' down and at a better rate than most other loan programs available. Regardless of your rank, married or if you're single there are some great ways to buy using your benefits. Remember, you earned them, so use them! If you are currently serving or ever have served in the military visit our military site at LocalMilitaryHomes.com
Rent-To-Own - We work with HPA which is a great program for those who want to lease purchase a home while they get their credit and finances in order. Once qualified you can pick any home for sale in an approved zip code area and lease it yearly until you're ready to buy. The benefits of this program is you don't need a large down payment, you can take up to 5 years to purchase and you can also walk away at any time after your yearly lease has expired. Contact us about this program at 253-642-6447
If you're not sure if you can qualify, have credit concerns or want to compare loans just give us a call. This is a free, over the phone service and you are not required to buy or committed to obtaining a loan. This service is to let you know where you're currently at financially so you can make a proper decision on buying a home now or in the future. It's easy, It's painless & It's free!
Call or email us anytime, we're here to help! 253-642-6447 / firstname.lastname@example.org