Are you considering purchasing your first home? Are you ready to be a first time home buyer? You will want to consider whether this is actually a good time to be buying a home. The news doesn't look all that promising lately with people losing their homes to foreclosure and the economy is the worst it's been in years.

Are You A First Time Home buyer

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Are you considering purchasing your first home?  Are you ready to be a first time home buyer? You will want to consider whether this is actually a good time to be buying a home. The news doesn't look all that promising lately with people losing their homes to foreclosure and the economy is the worst it's been in years. 

CALL NOW FOR A FREE CONSULTATION 

(888) 541-2796

Despite those facts, this could actually be a very good time to buy a home if you are a first time home buyer. Prices of homes are actually very low in America at the moment so first time buyers should be taking advantage of that. If you look back seven or eight years you would have been paying big dollars for small homes, but now you get a much better home for your money as the economy has changed and now homes are selling for bargain prices.

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(888) 541-2796

To understand the buying market you need to understand very simple, basic economics.  Supply is higher than demand!  There are more homes available than there are people who can afford to buy and as a result the prices have dropped.  Because there are not as many buyers at the moment, real estate agents are desperate for buyers so they really want your business.  Many real estate agents are offering all kinds of incentives to entice people to buy.  In fact, if you are looking to buy a home that has been on the market for quite some time, you may be able to grab a great deal with an incentive like a cruise or a vehicle to go with the home.



If you have never had a mortgage before you might be concerned about whether you will qualify for a loan. Rent-To-Own Homes: How The Process Works In a typical home purchase, the sale takes place shortly after the offer has been accepted, and the transaction is completed at closing. Since most buyers don’t have the money to pay cash, a mortgage is usually used to finance the purchase: The buyer puts down a certain percentage of the purchase price (the down payment), then pays the lender in regular installments over a period until the balance is paid off in full.

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To qualify for a mortgage; however, potential buyers need to have a good credit score and cash for a down payment. Without these, purchasing a home in the traditional way may not be an option. There is an alternative: a rent-to-own agreement. When buyers sign this kind of contract, they agree to rent the home for a set amount of time before exercising an option to purchase the property when or before the lease expires. Here's how rent to own works, and when it may be a good choice for someone looking to buy a home.