Home Buying Tips: Series 1

Purchasing your first home is a big step, that comes with some very serious decisions. Many homebuyers are intimidated by the process, and continue renting much longer than they should, or need to. However, if you break the homebuying process down into these simple steps, and follow these important tips, you will find the process less intimidating, and much more manageable. This week I will share 7 tips to help you along the way, here is the third:

2) You Dont Need a Down Payment! It always surprises me how many people want to purchase a home, but dont because they believe that a hefty down payment is required. Zero down programs are very common, and are quickly becoming the norm, rather than the exception to the rule. Because your new home is collateral for the loan, there are many banks that will jump at the chance to loan you 100% of its value. Perfect credit isnt a requirement, either. Because real estate typically appreciates in value, its often easier to be approved for a 100% mortgage than it is to borrow 100% for a car! By:Eric Bramlett