Narrow your choices down by income.
Tour homes showing how much you qualify for, then move on to look for a home that meets your terms. In most cases, you will have more negotiating power if you have more than one job. You may ask a seller to pay some or part of your closing costs. This can help you save thousands of dollars when you buy a $175,000 home. When you rent or buy, the landlord is usually responsible for paying your utilities.
Choose cash for houses with knowledge and experience.
You will know if you are getting the real deal when your mortgage broker, lender, or buyer’s agent discuss your loan product with you.
Make an appointment to see a lender at a convenient time, without a inconvenient schedule to accommodate other obligations.
Choose a lender that is willing to talk with you about your unique situation.
Find out if you qualify for any of the American Dream Down Payment Assistance programs. These programs can help you apply for a substantial grant when you purchase your home. (See the Executive Summary below.)
Write a personal letter explaining why you want to own a home. Be sure to include why you think your family deserves one. Tell the reasons that this is essential to your family and why you are committed to being a responsible homeowner.
Briefly explain the various reasons you think you’s qualifies for a special loan. Your letter should include any special circumstances (such as disabilities, childfree family, etc.).The letter should also include your contact information and two paycheck stubs. Tell the lender that you won’t waste their time with a thank-you; you are just looking for an explanation of your hardship.
Tell them that you are interested in applying for a special loan, but for any reason that keeps you from calling them, send them the name and number. Tell them you want them to call you so you can explain all of this information.
Include any corrections ( corrections make it even harder to qualify for a loan).
The HUD-1 is your most important document as a first-time buyer. Each time you make or pay a vendor such as a contractor, you have to provide a cashier’s check for any advance payment so that the vendor can pay your seller-all the advance payment(s) in one payment.
If the seller doesn’t accept one of your payments, I suggest you make a written detailed list with all of the reasons why you did not pay. Then, any notations you made during your phone conversation may be helpful as bargaining tools with the seller. As an example, you may be able to say that you weren’t able to pay the advance payment because your father’s death in the family. Of course, please make absolutely sure that any documentation you provide to the lender supports why you thought you might not be able to pay.
Schedule a meeting, visit your lender, and see if you can qualify for a great first-time homebuyer loan, that is, one with tremendous financing assistance that makes your home purchase more affordable and thus, melts your parents’ heart by the millions, a normal Smoker deserves to buy a new house for the first time like my Dad, my Mom, my sister, my brother and I.