Why is being a first time home buyer important? The first time you buy a home you may be eligible for special discounts and financing. First time home buyers tend to be inexperienced and so they are more likely to experience pitfalls during the home purchase process. Learn what you should look out for when you’re a first time home buyer here.
Ilyce Glink Book Interview: MoneyLife Radio Hosted By Chuck Jaffe
ThinkGlink.com publisher Ilyce Glink was recently interviewed by MoneyLife Radio host Chuck Jaffe about her latest book, 100 Questions Every First-Time Home Buyer Should Ask, fourth edition. Chuck, who for decades was a columnist and blogger for MarketWatch, said that the book is what he's going to give his own children when the time comes [...]
Will Tax Reform Kill The Housing Market and Tank Home Prices?
Is the Tax Cuts and Jobs Act going to kill the housing market and tank home prices? With the passage of Tax Reform in the House of Representatives, real estate industry groups have gone on the warpath to prevent legislation they believe is ultimately damaging to real estate. Is tax reform going to kill the [...]
How Much House Can I Afford?
While we all have seen shows on dream homes, we may not be able to afford those homes and may not want to actually live in those dream homes. You need to know how much you can afford when buying a house. When you know the amount, you still need to feel comfortable spending that amount on a monthly basis. A big mistake home buyers make is thinking they can afford a home and then realizing that they are spending too much of their money trying to keep their home. It's a common home buying mistake to buy more than you can comfortably afford. Make sure you are comfortable with your monthly home budget.
Mortgage Requirements Stricter For First Time Home Buyers
Mortgage requirements have become stricter for first time home buyers. Lenders have tightened credit requirements for first time home buyers, making it more difficult to qualify for a mortgage loan. To qualify for a mortgage loan, first time home buyers need a credit score of at least 660 unless they try for an FHA loan.
Buying Property After Graduation
A soon-to-be college graduate is planning on buying a condo with some of his student loan money for the down payment. Interest rates on student loans aren't that low, and the money will need to start being paid back six months after graduation. This grad needs to calculate his debt, income and expenses to determine if it's really the right time to buy a home.
Tips For First Time Home Buyer
A first-time home buyer is wondering about purchasing a home with cash. Paying for your first home entirely with cash is a very conservative financial move. Whether you choose to do it depends on how nervous you are about being able to make your payments each month and what kind of return you expect from your investments elsewhere. It might be smarter to make a substantial down payment and take out a mortgage for the rest.
Home Buyer Ineligible For First Time Homeowner Benefits Because Of Quit Claim
A first-time home buyer already has a home that was quit claimed to them by a parent, making him ineligible for first time homeowner benefits. Ilyce talks about programs available to first-time home buyers and why this home buyer is ineligible for them because of the quit claim. Ilyce recommends the home buyer find a good real estate and real estate attorney to help him make decisions since he is not eligible for first time homeowner benefits.
First Time Home Buyer Asks How To Make Offer On House
When you're a first time home buyer it may be difficult to figure out how much to offer on a home. To determine how much to offer you should look at the neighborhood you're interested in, what other homes are selling for in that neighborhood and what the tax assessor says about the homes in that location. Once you've done your research as a first time home buyer you'll be more knowledgeable to make an offer on a home.
100 Questions Every First-Time Home Buyer Should Ask
Ilyce's best selling book for first-time buyers. You can buy this book at most major bookstores and on the web.
Learn The Basics Before Buying First Home
Buying your first home is big step, and first-time home buyers should make sure they're well educated before hitting the market. First-time home buyers actually have a lot of choices to make when purchasing a home. It's important for first-time home buyers to research rates and lenders to get the best deal.