Don’t Pay Another Cent in Rent to Your Landlord Before You Read This FREE Special Report
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It’s a dream we all have—to own our own home and stop paying rent. But if you’re like most renters in the Murrieta, Temecula Valley, or Inland Empire, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle. You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home.
Don’t Feel Trapped Anymore
It doesn’t matter how long you’ve been renting, or how insurmountable your
financial situation may seem. 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. With this information, you will begin to see how you really can:
- save for a downpayment
- stop lining your landlord’s pockets and
- stop wasting thousands of dollars on rent
There are many important issues you should be aware of that affect you as a
renter. Why on earth would you continue to lose thousands by throwing it away
on rent when, with your agent, you could take a few minutes to discuss your
specific needs so that you can stop renting and start owning.
This conversation costs you nothing. And, of course, you shouldn’t have to feel
obligated to buy a home at the time you review this. But by taking the time to
explore your options, and learn about the ways you can afford to buy a home,
think how prepared and relaxed you’ll be when you are ready to make this important step.
6 Little Known Facts That Can Help You Buy Your First Home
The problem that most renters face isn’t their ability to meet a monthly payment.
Goodness knows that you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a downpayment on something more permanent.
But saving for this lump sum doesn’t have to be as difficult as you might think.
Consider the following 6 important points:
- You can buy a home with much less down
than you think.
There are some government programs (such as
the first time buyer programs) to help people get
into the housing market. You can qualify as a first
time buyer even if your spouse has owned a home
before as long as your name was not registered.
Ensure your real estate agent is informed and
knowledgeable in this important area and can offer programs to help you with your options. - You may be able to get your lender to help
you with your down-payment and closing
costs.
Even if you do not have enough cash for a
down-payment, if you are debt-free, and own an
asset free and clear (such as a car), your lending
institution may be able to lend you the down-payment for your home by securing it against this asset. - You may be able to find a seller to help
you buy and finance your home.
Some sellers may be willing to hold a second mortgage for you as a “seller take-back”. In this case,
the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount
for his or her home, you would pay monthly mortgage installments. - You may be able to create a cash down-payment without actually going into debt
By borrowing money for certain investments to a
specified level, you may be able to generate a significant tax refund for yourself that you can use as
a down-payment. While the money borrowed for
these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours
in the end. - You can buy a home even if you have
problems with your credit rating.
If you can come up with more than the minimum
down-payment, or can secure the loan with other
equity, many lending institutions will consider you
for a mortgage. Alternatively, a seller take-back
mortgage could also help you in this situation. - You can, and should, get preapproved for a
home loan before you go looking for a home.
Preapproval is easy, and can give you complete
peace-of-mind when shopping for your home.
Mortgage experts can obtain written preapproval
for you at no cost and no obligation, and it can all
be done quite easily over the phone. More than
just a verbal approval from your lending institution, a written preapproval is as good as money
in the bank. It entails a completed credit application and a certificate which guarantees you a
mortgage to the specified level when you find the
home you’re looking for.
Consider dealing only with a professional who
specializes in mortgages. Enlisting their services
can make the difference between obtaining a
mortgage and being stuck in the renter’s rut forever. Typically, there is no cost or obligation to
enquire.
To Discuss Your Home Sale or Purchase, Call or Text Today & Start Packing!
