Posts with tag 'first time home buyers'

Everyone goes into house-hunting with needs and wants. Our real estate agents help you save time and do more by zeroing in on what's important to you early in the process. That means you can focus on properties that are right for you without wasting time with those that won't work.

Franconia homes for sale have something for just about everybody, so it makes sense they are in demand. But that doesn't mean each one is a match for you. That's why it's essential to define what you need and what you want before you jump into the process of looking for your new home.

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Wouldn't it be nice to stop paying rent and finally own a home? It may seem like a pipe dream, but with some planning, it can be an achievable goal. What do you have to do to move into one of the many Plymouth homes for sale? Here are five essential steps on the path to homeownership.

1. Check Your Finances
   Before you can buy a home, you first need to ensure you can afford it. However, the requirements aren't as rigorous as you might think. The average down payment for first-time homebuyers is only 8%. For a $300,000 home, this means you would need to put aside $24,000. Additionally, you must provide proof of a stable job with steady income for the past two years, have a credit score of at least 620, and maintain a debt-to-income ratio under 40%. If you don't meet these criteria, don't worry. You can still qualify for a federally-backed FHA loan, which requires a down payment of only 3.5% with a credit score of 580. Even with a credit score as low as 500, you can obtain an FHA loan with a 10% down payment.

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Looking to buy a home this spring? Attending an open house is a great way to get a feel for a property. Our real estate agents want you to make the most of these pre-purchase visits by asking the right questions.

• Ask for a listing sheet to see what comes with the house.
  If you are attracted to unique features at a house, ask if they will remain on the property. The same holds for appliances.  
  
  
• What kind of renovations have been done?
  Look at the property disclosure and see what...

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Open floor plans are all the rage, even though they've been around for decades. There's no question they're beautiful, but are they right for you? Your taste and your lifestyle make that determination. To help you decide, our real estate agents want to compare and contrast them from a practical point of view. Here are some points to consider.

• Do you love to entertain?
  People who love to entertain will likely appreciate the open space so guests can enjoy talking in one area, music playing in another, and refreshments being served in a third. Some people may a...

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Forget everything you've heard about buying a home in the last two years. The housing market in 2023 is going to be an entirely different affair. Some experts are predicting a more balanced market. But that won't necessarily make homeownership more affordable as interest rates are on the rise.

So, what's a savvy first-time buyer to do? Here are some tips from our real estate agents that will help you bring your homeownership goals to fruition.

1. Add to Your Down Payment
   Generally speaking, a larger down payment means a lowe...

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