I witness time and again advertisements on the internet, billboards and radio for. The down payment is typically in the form of a grant that does not need to be paid back. Many people push these loans enticing first time homebuyers to buy a home without any money out of their pocket. While these loans increase sales for the loan officer and real estate agent, are they really in the best interests of the first-time homebuyer?
Category: First Time Homebuyers
The National Association of Realtors® recently went before the United States House of Representatives in support of the First Time Homebuyer Pandemic Savings Act. Want to know more about the legislation and what it could mean for first time homebuyers? We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 Copyright © 2020 Counsel Mortgage Group®, LLC.
As you can imagine, we get asked more so than ever before, “Is now the right time for buying or refinancing a home?” Refinancing is currently on the forefront of many homeowner’s minds today. If you are a prospective home buyer when should you start planning for your mortgage? The answer is as soon as you think you will be buying or refinancing a home.
There are a lot of programs that market to first time homebuyers. The most popular one is down payment assistance, no money down program; we broker this program. Many banks and lenders tout how great this program is by allowing people who have never owned a home before, to get in the home with no money down. What they may fail to tell the buyer is that these programs typically come with higher interest rates and costs than if they had a down payment. If the buyer could come up with as little as 1% down, which can be a...