For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets
Reason No. 4: Down payments don’t need to break the bank
Probably the biggest obstacle that prevents renters from becoming homeowners is pulling together a down payment. But today, that chunk of change can be smaller, thanks to a variety of programs to help home buyers. For instance, the new Fannie Mae and Freddie Mac Home Possible Advantage Program allows for a 3% down payment for credit scores as low as 620.
Reason No. 5: Mortgage insurance is a deal, too
If youdodecide to put less than 20% down on a home, you are then required to have mortgage insurance. A workaround to handle this, however, is to take out aloan from the Federal Housing Administration—a government mortgage insurer that backs loans with down payments as low as 3.5% and credit scores as low as 580.
Reason No. 6: You’ll reap major tax breaks
Tax laws continue to favor homeowners, so you’re not just buying a place to live—you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you candeduct all the monthly interestyou are paying on that loan.
Author:Mary Taylor Phone: 214-631-9068 Dated: April 21st 2016 Views: 1,779 About Mary: Mary Taylor grew up in Fort Worth and is proud to call herself a Texan. Soon after starting a career...
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JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
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"Bob is not only a great realtor with savvy negotiation skills and expertise in all aspects of his field. His customer service skills and genuine caring personality makes what could be a stressful time such a pleasant experience. If you are looking for someone to help you find your dream home with the knowledge to make sure you are buying in a good location and that you really getting what you want for the right price and quality contact Bob Hardie. He was always responsive to all of our needs and request whether crazy or not. Bottom line he is awesome!"