One of the most common deterrents to first-time home buyers is the lack of a down payment. However, the home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.
Some states sponsor loan programs that allow buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan. Parents can also give their children down payment help through a personal note or second trust deed. The terms can be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.
With so many alternatives, doesn't it make sense to call your real estate agent for a free consultation? You may be closer to home ownership than you think.
David Raesz and The Raesz Team Keller Williams Realty Austin, TX 78746 Tel: 512-794-6635 Fax: 512-448-4822 Tel: 800-879-1161 Email: raesz@kw.com
David Raesz and the Raesz Team understands that when it comes to your home sale or purchase, a professional team who will cut to the chase, go the distance and get the job done quickly is the key to your success.
And as one of the leading professional real estate teams in the Austin area, the Raesz Team are the Realtors® more and more people are turning to for help. Whether you are looking to buy or sell your home, or if you need the helpful guidance of central Texas' premier relocation specialists, you can always count on the Raesz Team to get the job done right.
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