If You Are A First-Time Home Buyer, The NCHFA May Be Able To Help With Financing

If You Are a First-Time Home Buyer, the NCHFA May Be Able to Help with Financing

Help for First-Time Home BuyersIf you are a first-time home buyer, or you are already a homeowner who wants to upgrade but can’t afford to, a North Carolina Home Advantage Mortgage, along with forgivable down payment help, may be the solution. The North Carolina Housing Finance Agency (NCHFA) helps to make home ownership affordable for qualifying buyers with financial assistance.

Furthermore, if you are a first-time home buyer, you may be eligible for an MCC (mortgage credit certificate) – a federal tax credit that might decrease your federal taxes for every year that you stay in your home.

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Buy A Home In A Year After Foreclosure With A Government Backed Loan

Buy A Home In A Year After Foreclosure With A Government Backed Loan

buy a home in asheville after foreclosure

The Obama administration wants to create a mortgage market that is more forgiving toborrowers who lost their homes due to the recession, an effort that could widen the pool of potential homeowners.

A recent rule change lets certain borrowers who have gone through a foreclosure, bankruptcy or other adverse event—but who have repaired their credit—become eligible to receive a new mortgage backed by the Federal Housing Administration after waiting as little as one year. Previously, they had to wait at least three years before they could qualify for a new government-backed loan.

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Falling In Love With A House Can Be A Big Mistake For A First-Time Home Buyer

Falling in Love with a House Can Be a Big Mistake for a First-Time Home Buyer

Falling in Love with a House Can Be a Big Mistake for a First-Time Home BuyerFalling in love can be a wonderful thing. It enables you to see the inner beauty of another person and it makes you happy to be alive. But falling in love can also be a bad thing – it can blind you to someone’s faults and make a fool out of you. In much the same way, when a first-time home buyer falls in love with a house, it could be their worst financial mistake, especially if they stubbornly ignore the sound advice of experts.

Some people seek out homes they feel an emotional connection with. That’s fine, but you should still be careful when you find your “dream” home. Think about how you’re going to feel when the honeymoon phase is over. You might ignore its idiosyncrasies now, but as a first-time home buyer, you may suffer remorse when you have to deal everyday with creaky floorboards or a cramped kitchen.

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