If you're considering buying your first home, you're not alone. Low interest rates, affordable home values as well as a $8000 tax credit* have many Americans considering purchasing their first home. It's important to be prepared to act when the right home finds you.
10 Steps to Prepare for Home ownership:
1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
2. Develop a wish list of what you'd like your home to have. Then prioritize the features on your list.
3. Select three or four neighborhoods you'd like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
4. Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney's fee, and transfer fees average between 2 percent and 7 percent of the home price.
5. Get your credit in order. Obtain a copy of your credit report.
6. Determine how large a mortgage you can qualify for. Also explore different loans options and decide what's best for you.
7. Organize all the documentation a lender will need to pre-approve you for a loan.
8. Do research to determine if you qualify for any special mortgage or down-payment-assistance programs.
9. Calculate the costs of home ownership, including property taxes, insurance, maintenance, and association fees, if applicable.
10. Find an experienced Tony Clark REALTOR® who can help you through the process.
Ready to Buy a Home? Let Angela Clark's experience be your guide!
Call Angela Clark at 270-929-4022 & discuss your home options. www.AngelaRClark.com
Angela Clark, GRI, ABR, Realtor
270-929-4022 Cell
270-926-0055 Office
Tony Clark Realtors, LLC, 2934 Frederica Street, Owensboro Kentucky
Tony Clark Realtors LLC, 107 Main Street, Hawesville, Kentucky
Because knowledge is power, I wanted to share this information from www.TonyClark.com
Home Buyer's Resources Center.... -Angela Clark, Realtor, Tony Clark Realtors LLC
Ready to Buy a Home? Let Angela Clark's experience be your guide! Call Angela Clark at 270-929-4022 & discuss your home options. www.AngelaRClark.com
Angela Clark, GRI, ABR, Realtor
270-929-4022 Cell
270-926-0055 Office
Tony Clark Realtors, LLC, 2934 Frederica Street, Owensboro Kentucky
Tony Clark Realtors LLC, 107 Main Street, Hawesville, Kentucky
| Understanding Your Credit |
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| Your credit report is a record of information about your credit payment history. Private companies called credit bureaus compile credit reports. There are three primary credit bureaus in the United States: Equifax, Experian, and TransUnion. Each of the credit bureaus gathers information about consumers from a combination of public records, such as court documents and property tax rolls, and reports provided by businesses, such as banks, finance companies, and utility companies. | ||
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You can purchase a copy of your credit report directly from each of the credit bureaus.
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Equifax |
Experian 34405 W. 12 Mile Rd. Farmington Hills, MI 48331 1-888-397-3742 http://www.experian.com/ |
Trans Union P.O. Box 390 Springfield, PA 19064-0390 1-800-916-8800 http://www.transunion.com/ |
| At Tony Clark Real Estate, we depend on information in your credit report to help us decide if we can extend to you a rental housing agreement or purchasing property. If you're not sure what's in your credit report, may we suggest you review it before applying for a loan. Many consumer experts suggest that you review your credit report for accuracy at least once a year.
Don't assume that you must have perfect credit to qualify for a loan. There are numerous financial products available, tailored to the needs of the individual. Mortgage programs such as FHA (Federal Housing Administration) and VA (Veteran's Administration) allow for a greater income to debt ratio. Talk to your Tony Clark agent that may be available to you, and to the home you are wanting to purchase. |
Ready to Buy a Home? Let Angela Clark's experience be your guide! Call Angela Clark at 270-929-4022 & discuss your home options. www.AngelaRClark.com
Angela Clark, GRI, ABR, Realtor
270-929-4022 Cell
270-926-0055 Office
Tony Clark Realtors, LLC, 2934 Frederica Street, Owensboro Kentucky
Tony Clark Realtors LLC, 107 Main Street, Hawesville, Kentucky
Are you having difficulty making your mortgage payment? One of the most important things you can do is seek assistance, now! The following links and resources may offer answers to your questions. The Realtors at Tony Clark Realtors offer resources and information for your convenience.
| The Department of Housing and Urban Development (HUD) | |
| Housing Counseling Agencies | |
| Tips for Avoiding Foreclosure | |
| How to Avoid Foreclosure (82 KB PDF) | |
| Federal Housing Administration (FHA) | |
| You Can Avoid Foreclosure and Keep Your Home | |
| Federal Reserve System | |
| Federal Reserve Education - Foreclosure Resources | |
| Putting Your Home on the Loan Line Is Risky Business | |
| Federal Trade Commission | |
| Mortgage Payments Sending You Reeling? Here's What to Do | |
| Credit Repair: Self Help May Be Best | |
| Internal Revenue Service | |
| Homeowners Who Lose Homes; Foreclosure Tax Relief Available to Many | |
| Questions and Answers on Home Foreclosure and Debt Cancellation | |
| Federal Reserve System | |
| Consumer Information from the FRS |
Ready to Buy a Home? Let Angela Clark's experience be your guide! Call Angela Clark at 270-929-4022 & discuss your home options. www.AngelaRClark.com
Angela Clark, GRI, ABR, Realtor
270-929-4022 Cell
270-926-0055 Office
Tony Clark Realtors, LLC, 2934 Frederica Street, Owensboro Kentucky
Tony Clark Realtors LLC, 107 Main Street, Hawesville, Kentucky
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