Our agents are specialist in getting the right loan that you need to get the real estate that you want. We will offer you all the optiosn based on your particular needs and you particular case. We will work with you along the process to get yuou the best deal.
These are the Programs the Federal Home Administration offer.
FHA Loans
The Federal Housing Administration administers the FHA Loan program, which provides many low and moderate income individuals and families with access to affordable home loans for single family dwellings and multi-family properties that include up to four units.
FHA Loans are available for new and used homes, as well as for prefabricated and mobile homes. Depending on your particular financial situation, you may be able to finance fees for renovations and repairs into your mortgage. FHA Energy-Efficient mortgages allow home buyers to include fees associated with energy improvements into their home loans.
The credit qualification criteria are not as stringent for FHA Loan programs as for conventional mortgages. Additionally, these types of loans have low closing costs, minimal down payment requirements, and don’t require private mortgage insurance (PMI).
Veterans Administration (VA) Home Loans
Most veterans of the United States Military are eligible for federally guaranteed home loans. Surviving spouses are also able to benefit from VA loans. Eligible veterans may apply for low-interest rate home loans of up to $417,000 to purchase a home. Because down payments and mortgage insurance are not required, these loans are often significantly less expensive than conventional loans.
Good Neighbor Next Door Loan Program
The department of Housing and Urban Development (HUD) offers substantial discounts to individuals in certain service oriented professions on eligible properties in areas targeted for revitalization efforts. Qualified homebuyers can receive grant funds equivalent to 50 percent of the list price of the approved property. The property must remain the sole residence of the homebuyer for a minimum of 36 months. If the residency requirement isn’t met, the grant amount must be repaid.
Eligible professionals include:
- Emergency Medical Technicians
- Fire Fighters
- Law Enforcement Officers
- School Teachers (pre-K through 12th grade)
The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!
Nine steps to buying a home
Step 1: Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. Contact one of our Agents to help you find out for sure.
A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that downpayment!
Step 2: Know your rights
Its important that before you buy a real estate you know your rights. We will explain you what are your rights including:
- Fair Housing: Equal Opportunity for All
- Real Estate Settlement Procedures Act (RESPA)
- Borrower’s rights
- Predatory lending
Step 3: Shop for a loan
We help you to talk to several lenders, compare costs and interest rates, negotiate to get a better deal. We always look for your best option:
- We look for the best mortgage
- We will give you the best loan alternatives
Step 4: Learn about homebuying programs
We will give you all the information about the different homebuying programs and we will guide you with our experience so you can choose the best program for you. Let us help, click here to get in contact
Step 5: Shop for a home
We will drive you to find the house that you want in the city of your election.
Step 6: Make an offer
After we discuss the process we will help you to make an offer for the house you have chosen. If the seller counters your offer, we may need to negotiate until you both agree to the terms of the sale.
Step 7: Get a home inspection
Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.
Step 8: Shop for homeowners insurance
Lenders require that you have homeowners insurance. We wil help you to get you the best deal.
Step 9: Sign papers
You’re finally ready to go to “settlement” or “closing.” We will explain you and read you everything before you sign!
