Is Buying a House Stressful?
It has been said that getting married, getting a divorce and buying a house are three of the most stressful life events anyone can go through. With the proper resources and a mortgage professional the stress of buying a house can be eliminated.
Many consumers have stress just wondering if they are going to qualify for a loan, and then they dread having to find a realtor. Working with a professional is a great thing and is helpful when times are tough. Especially now, everyone wants to believe that the person they are working with is trustworthy and will provide them the tools and resources that they need to get into a home.
This is why I am a professional, and I have spent time learning my craft. In a quest for finding ways to help families get something positive out of the changes in the industry, I went t to work getting educated on short sales so that I could help families in distressed. In addition, I made it a point over the years to learn the ins and outs of FHA loans. The Federal Housing Administration makes loans available where down payments for as little as 3.5% can be made, rather than the whopping 20% down that most people don’t have. With FHA, you could also get up to 6% seller concessions. The winning combination here is making housing affordable and creating options that were not available before.
The Federal Housing Administration is the largest insurer of government loans in the world. FHA provides financing for a wide variety of homes so it makes it easy to choose from the inventory of homes that are on the market today. FHA has insured over 37 million home loans so it’s not a small operation by any means.
Leave the stress out of the equation by first figuring out how much home you can afford. This is going to be determined by several different factors. You need to take into account your income, credit rating and monthly expenses. Then, consider what you have for a down payment and what interest rates are at right now. This is the first place to start when deciding to buy a home.
Secondly, know your rights; know what you can do to make the process smoother, and any programs that are available to you. FHA is the strongest way to buy a home, but you need to educate yourself and make a decision that you can fully own up to. Be sure to ask the lender questions and know the difference between what is proper and what is predatory lending.
Lastly, be sure to shop for the best loan. FHA loans are a good way to go for first time home buyers because they offer low down payments, low closing costs and gentler guidelines on credit. Getting an FHA loan will assist you in buying a single family property, or even one up to four units. You can even get a handyman special and have the cost of the home and the repairs all wrapped up into one loan. I am a professional and I walk you through this entire process. I welcome any questions so visit my website today at www.fhaloansnow.net.