First Time Homebuyer Advantage

ARE YOU A FIRST TIME HOMEBUYER?

Work with our knowledgeable, preferred partners, AND receive cash back after closing! Contact us to learn more today.

Today's real estate market is HOT!

Today's real estate market is HOT! There is a lot of buyer interest but low housing inventory. How can you compete with multiple buyers, including cash buyers? Now, more than ever, It's important to know how to make a confident and competitive offer. Here are your KEYS TO SUCCESS for making a winning offer:
  • Know What You Can Afford. The best way to know what you can afford is to talk to a mortgage lender who can review your income, work history, assets and credit to determine how much home you can afford. Your lender can get you preapproved for a mortgage. A preapproval means you have gone through the underwriting process and all you will need to close is a purchase & sale agreement and an appraisal! Less than half of homebuyers get a preapproval instead of a pre-qualification, and this difference will set you apart from the other buyers, and give you the clout you want when submitting an offer. It lets sellers know you are a serious, qualified buyer, and gives you a competitive edge.
  • Partner with an Experienced Realtor. Once you are pre-approved, First Time Homebuyer Advantage will connect you with one of our Realtor partners to help you find your perfect home. Your realtor should be your primary source for answers to the questions you have when you're ready to make an offer, and will walk you through all the aspects of purchasing your home.
    According to the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. It's very important to work with professionals who understand today's competitive real estate market and will help you through the process.
  • Make an Offer! When you find your dream home your realtor will help you prepare an offer. Be fair. While everyone wants a good deal, you should rely on your realtor's expertise to prepare a fair offer that will be taken seriously by the seller. Your realtor knows the area and the market value of the home and will help prepare a competitive offer.
  • Then What? The seller may accept your offer, or reject it, or counter offer. Stay calm and rely on your experienced realtor. Because you took the time to get pre-approved, you are a strong buyer and can close sooner than someone who is not. Your agent will explain any contingencies or conditions that are set. One contingency you should not waive is the inspection contingency – if an offer is ‘as-is” that means seller won't pay for any repairs, and you don't want buy a home that has hidden issues you may not be able to afford to fix!
  • Remember: You took the steps to know what you can afford, and were partnered with an experienced, knowledgeable realtor. Working with our trusted partners will help you navigate today's competitive market and help you find your dream home.

As a special bonus, after closing you will receive CASH BACK from First Time Homebuyer Advantage for using our preferred partners. We strive to make this process as stress-free as possible!

The Financial Advantages of Owning a Home

Did you know…

Purchasing a home may be easier than you think and could help save money in the long run?

It's true! There are actually many positives to owning a home that the average person may not know about. Growing Appreciation, Building Net Worth, and Increased Equity are just a few of the benefits that owning a home could provide you. If this seems like new information to you, don't worry! First Time Home Buyer Advantage is here to show you why it's never too early to make a plan towards purchasing your first home. Let's take a quick look at three financial benefits that can lead you in the right direction of greater stability, savings, and predictability!

  1. Monthly Housing Payments Won't Last Forever
    When you rent, you have a monthly housing payment. Obviously when owning a home, you have a monthly mortgage payment as well. However, as a homeowner, you can actually eliminate the monthly payment you make on your house by paying off your mortgage on time or early. On the other hand, if you're renting, you will ALWAYS be making a monthly payment & often, this payment is greater than the average mortgage payment. Even better, as soon as you buy a home, your normal monthly housing costs will become forced savings (known as equity). Building your equity and growing your net worth could mean reinvesting those savings into your future! Eliminating a monthly payment is an enormous step in the right direction towards financial stability and savings!
  2. Tax Break for Home-Owners
    Did you know, both the interest and property tax portion of your mortgage is a tax deduction? In other words, as long as the balance of your mortgage is less than the total price of your home, the interest is actually 100% deductible on your tax return! Tax relief in regard to the interest you pay each year is a huge financial advantage!
  3. Housing Costs are Predictable
    When renting, you may experience fluctuation of what you pay monthly. Owning a home with a fixed-rate mortgage allows you to budget your finances more efficiently. A mortgage will allow you to keep your monthly costs steady and predictable!
Owning a home can be much more beneficial in the long run. If you're looking to get started purchasing your first home after reading this article, our team of specialists is prepared to guide you every step of the way! Contact us and learn how working with our preferred partners can get you cash back after closing, today!

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