Reddit first time home buyer

So keep in mind you have closing costs as well, which could be between 2-5% of the loan, especially if you’re buying points. Given a take home of $2,000, ideally your monthly payment would be in the ballpark of $750 and you should not exceed $1,000. Some very rough calculations say you could possibly purchase a 100,000 house with 10% down.

Answering First Time Home Buyer questions on Reddit! I spend a lot of time on r/firsttimehomebuyer and I wanted to take some of the best questions to ask a …Dave’s first choice is always 100% down. But if you are first time homebuyer you should aim for at least 10%. Some first time homebuyer programs have no PMI if you are over 80% LTV but these can come with a higher interest rate. Just make sure you have a pile of cash for down payment and a pile of cash for closing costs.Put a 20% or more down payment to avoid additional fees during mortgage. timing the property tax payments (2x per year) will give you a $5-15k savings you don't have to pay until you sign the title. look into duets, duplexes, halfplexes etc these type of SFH's that are arguably return a better value than condos.We did a FHA Loan and received 4% down payment assistance through the first time home buyer program in CA. Our mortgage was very high with so little down and with pmi but we could afford it. Sold after just two years and made $210k. Put $160k on a brand new home still being built and have made another $200k on that house in just 8 months!Oftentimes, homeowners do not become aware of the need for a backup power source until something terrible happens. Especially in the winter time, a sudden power loss that goes on f...So, in year 16, there will be 1 adjustment up to 6.5% (cap on rate increase). I’m betting that I would have sold by that point or refinance. I’m willing to take that risk though, because the difference in equity and payments for that first 15 years is so much when comparing 2.5% to 4%. 1. wikipedia_answer_bot.I’d encourage you to look into the Hayward hills area by CSUEB, East Ave, Garin, or you can stick to flat lands and go near Costco area by Eden Shores. Tennyson is the only questionable part of South Hayward, but overall other areas are good imo. The hills is the way to go imo. Lolitsgab • 2 yr. ago.

Oregon Bond Loan Program - Either 3% cash to assist in downpayment. or a 3.25% rate with no cash assistance, for the Portland area your income needs to be below $96,000 ( which I'm not ). Sucks that I'm barely over the limit, but hopefully someone else will enjoy a great rate or DP assistance.Me and my wife are first time home buyers in Texas and Im a little nervous if we will get approved for a loan that will cover the house. The house we are looking at is a new construction costing about $245,000. We have to have $5000 earnest money at time of signing then we will apply for the loan. This will occur around March 1st 2022.Aug 22, 2023 ... Your realtor should be very familiar with the process. They should be able to provide you with references. I recommend placing 20% down and ... Early 2021 - Thought about buying house with potential date of early 2022 March 21 - Registered for the initial Homebuyer's Workshop given a date of May 22 May 22 - Attended Workshop July 8 - First Intake Counseling Session; met mortgage counselor who gave some minor requirements before approval July 14 - Follow-up session with counsellor. Me and my wife are first time home buyers in Texas and Im a little nervous if we will get approved for a loan that will cover the house. The house we are looking at is a new construction costing about $245,000. We have to have $5000 earnest money at time of signing then we will apply for the loan. This will occur around March 1st 2022.Roatan, a stunning Caribbean island located off the coast of Honduras, has become a sought-after destination for individuals looking to invest in real estate. When it comes to buyi...

Some national ones that are good is Sofi, Quicken, Better, Lenderfi. They are mostly the same tbh. Just try to get the best rate and get it rate matched with the one that gave you the best customer experience when shopping. ZangiefThunderThighs. • 2 yr. ago. Honestly, whoever gives you a good rate.Jul 13, 2023 ... The mortgage alone would be around 2,650 a month. Add in insurance and taxes and you are going to be at least around $3k a month for just your ...Depends on the area and family size. I think long island, 2-3 person single family home capta the HHI limit around $126k. What county are you looking and how big is your family. Jmitch680 • 1 yr. ago. Oswego county and just me and my wife. Jmitch680 • 1 yr. ago. For Oswego county with a 2 person income, the limit looks to be $62,710.Educate yourself… personal finance, first time homebuyer seminars… advocate for yourself. Do not buy a home with someone who you are not married to… a nightmare scenario if you break up. If you are buying together get an attorney to draft the agreement. Money well spent.verbal agreement is not enough to protect you. Reply reply.Buying your first home is probably of the most exciting adventures of your life. Going into the process armed with the knowledge you need can help make the process smooth and strai...I think the max you can get is $400K regardless of income. CFCU has one too, but you need a higher credit score than the SECU one. SECU also has a template to show you what your APR would be based on loan terms. Overall we needed about 10K in cash for closing costs, inspections, survey, etc. and we did 100% financing.

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The proposed 10% purchase price up to $15k tax credit is exactly that - proposed and not enacted. Back in 2008 Congress passed a law allowing for a tax credit of $8k to first time homebuyers. Some members of Congress have been trying to reintroduce a similar credit since 2021, but it has not gained much traction, much of this due to the fear of ...Oftentimes, homeowners do not become aware of the need for a backup power source until something terrible happens. Especially in the winter time, a sudden power loss that goes on f...When you sell, you have to pay 5% to the realtor, 5% to the feds. So your $400k home now needs to sell to sell for $650k to break even. (5% to realtor ($32.5k), 5% to feds ($32.5k), $75k in expenses, $12k in closing costs, $97k in interest). The risk isn’t worth it in my opinion. If I’m owning an asset, I want to own it.Carpets have been a treasured indoor decoration going back thousands of years. The Persian, Indian and other Asian cultures have developed a heritage of making fine carpets that ha...5. balanceandpeace. • 9 yr. ago. Duct tape and scissors -- make sure the scissors aren't sealed in a box somewhere. Garbage bags and paper towels. One of the last boxes you pack, and of the first you want to open is bedding material. Make up your bed before you start unpacking anything else. 3.

Double check your grants don't raise your interest rate. Here in Oklahoma you can get a 5% gift from OHFA, but your rate will be about 1.3% higher than if you got a loan (FHA & conventional) without it. You should take a look at your state's housing finance agency website to see what programs and grants you may be eligible for.No, the first time homebuyer incentive is NOT worth it in my opinion. Unless you really need it, you’re essentially putting an additional mortgage on your home. 7. carnewbie911. • 3 yr. ago. If you need that extra 5% then it's worth it. If you don't need the money, don't use it. You are losing 5% equity in your house. 4.One thing I would say that I didn’t understand as a first time home buyer was just how much it cost to get the keys. My gf and I had saved up for what we thought was our $10k down payment. It wasn’t much and we knew we’d …Depends on the area and family size. I think long island, 2-3 person single family home capta the HHI limit around $126k. What county are you looking and how big is your family. Jmitch680 • 1 yr. ago. Oswego county and just me and my wife. Jmitch680 • 1 yr. ago. For Oswego county with a 2 person income, the limit looks to be $62,710. Here are the points I'm looking for opinions on. Our realtor had us make an "escalation" offer of $5,000. He called us the night of the best and final offer to say that we were the highest and strongest offer. This was when our price was named. $25,000 over asking and at the very top of our budget, but still doable. For applications submitted on or after May 1, 2022, the base incentive amount is $10,000 for first-time homebuyers with a household income at or below 80% of the area median income. That’s 62k for a household of one. Reply reply. Puzzleheaded-Lab3330. I'm close with my dad and we'd like to buy a place together with my GF. My salary is 65k a year base and at least a 13% yearly bonus (usually 3-5%more). 13% is a conservative guarantee. $35k cash saved, $50k in my 401k (I put 15% away with a 4% company match), no debt other than $8k left on a car loan at $160 per month.View community ranking In the Top 1% of largest communities on Reddit. First time home buyer assistant grants . Hi everyone, me and my wife currently live in philadelphia pa and were seeking possible grants for first time home buyers. We do make around 120k a year but assistance would be helpful. Is buying a condo worth it? This is a question that many first-time homebuyers face when looking for a place to live. In this Reddit post, you can find different opinions and experiences from condo owners and real estate experts. Learn about the pros and cons of condo living, such as HOA fees, appreciation, resale value, and more.

6 days ago · The $10,000 First-Time Home Buyer Tax Credit is a mortgage relief program to help low- and middle-income households stop renting and start owning. The program gives eligible buyers $5,000 a year in tax credits for their first two years of homeownership. Tax credit money can be used for any purpose.

I just bought a house a few weeks ago. One thing that stands out for me is the sewer system. Have it inspected. Eight days after closing on my house, lower level flooded due to clogged sewer lines in the front lawn.Bringing a new cat into your home is an exciting and rewarding experience. However, before you rush to buy a cat, it’s important to ensure that your home is prepared to welcome you...There are many lenders and brokers who offer conventional loans for first-time homebuyers with as little as 3% or 5% down payment. That credit union is one of many options that you have to choose from. If you have good, or better yet, very good or great credit, a conventional loan is much better than an FHA mortgage due to much cheaper PMI (and ...You can fix anything yourself. Start looking for sales of Ryobi battery operated tools at Home Depot. If you think something needs to be replaced, get 3 quotes and tell them you are getting 2 other quotes. Otherwise you’ll get 3 high quotes. OlafTheDestroyer2 •. Agreed, but let’s substitute Reddit for YouTube.For reference, we bought a 45 year old home, hired a sewer specialist, licensed PE structural engineer, general inspector, pest inspector, and pool inspector. BernardAff. •. You can use this number to get an appraiser or inspector nationwide 877-704-2614. partynwayne.Dec 10, 2022 ... I don't think you need 20% down these days but most will require at least 3%. You also might not realize that closing costs along can be better ...Double check your grants don't raise your interest rate. Here in Oklahoma you can get a 5% gift from OHFA, but your rate will be about 1.3% higher than if you got a loan (FHA & conventional) without it. You should take a look at your state's housing finance agency website to see what programs and grants you may be eligible for.

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There is no such thing as a first time buyer mortgage. Most first time buyer programs are down payment assistance, and sponsored at the state or local level. Because you are using other people's money, there are many hoops to jump and rules to follow. Good news is that FHA is not a first time buyer program, and allows down payment of as little ... First Time Buyer - Any Advice? Hey all, This is a pretty generalised post, but in the next 6 months I’m looking to get the ball rolling on purchasing my first home. Living in the South East (Berkshire) and looking for any advice on what to look for, even any area recommendations. Property budget is up to £230k. I purchased my first home - a condo, two years ago. Best decision I made. At the end of the day, after renting, you have nothing to show, except a pitiful $300 cleaning deposit refund. 333K subscribers in the FirstTimeHomeBuyer community. The ultimate subreddit for everything a first time home buyer NEEDS to know. When you’re in the market for a mobile home, one decision you have to make is whether to buy a new or used model. Buyers of used mobile homes usually choose the pre-owned option to... Hello all! This is my first post on Reddit so I apologize for any spelling formatting or grammar mistakes, I am also on mobile. My fiancé 23(m) and I 22(f) are planning on hopefully purchasing our first home this coming year. We would be first time home buyers, and in addition to that the first home owners in either of our families. When you’re in the market for a mobile home, one decision you have to make is whether to buy a new or used model. Buyers of used mobile homes usually choose the pre-owned option to...First Time Buyers. We found a house we like and we really want to make an offer but are worried about overvaluation and current market. A similar property on the same road (all built at the same time and part of the same estate) just sold for 550k. This property is on the market for 575k, but from the last sale price adjusted for inflation it ...Dave’s first choice is always 100% down. But if you are first time homebuyer you should aim for at least 10%. Some first time homebuyer programs have no PMI if you are over 80% LTV but these can come with a higher interest rate. Just make sure you have a pile of cash for down payment and a pile of cash for closing costs. ….

Here are the programs first-time buyers use. 1. HomeReady: Low Down Payment Mortgage. HomeReady is a 3-percent down payment mortgage that offers reduced mortgage rates and lower loan costs for low- and moderate-income home buyers. HomeReady is a modified conventional mortgage, backed by Fannie Mae.Are you in the market for a new television? With so many options available, it can be overwhelming to navigate through the sea of choices. Whether you’re upgrading your current TV ...Not sure why people buy a house and then turn around and look at the market. Your home is your home. Most if not all FTHB bought their first home to live in to beat rents, …I'm working on purchasing a home from a friend of mine using the VA loan. First time using the loan, I'm going through Penfed and since he's selling it to me, there is no realtor involved. I'm 70% disabled with TDIU, so my current state …On the Virginia Housing website, there's a first-time homebuyer course. They offer in-person classes, or an online version. It's very basic info that my partner and I found helpful this year while we were shopping. Talk to a realtor. Watching videos might help to an extent but going and checking out houses witha realtor is the best way to learn. Even if you are not ready to buy now tell your realtor about that upfront. 2. JerseyKiwi. • 1 yr. ago. I bought the Dummy's series book on first time home buying, just off Amazon. NOVA includes Prince William County and Loudon County, whose far west and far south areas include plenty of townhouses for under 400K. Condos are much less at ~200K. So open up Zillow, put in your max price filter, and zoom out. gordo0620 • 10 min. ago. 4 bedroom, 3.5 bath, garage, end unit in PWC, $430K.First time home buyer Questions. I've been working for a year out of college and have about 50k in cash saved up and make 80k/year before taxes. I'm hoping that will be enough for a down payment on a townhouse (<300k) but I'm just lost and confused at this gigantic task before me. What resources would you guys recommend for first time home ...First Time Home Buyer in Los Angeles County. My husband and I started the process to buy a house finally and have been looking in my hometown of Long Beach which is in LA county. We were pre-approved for 830k FHA and 775k conventional but want to keep our monthly mortgage around 3000 or 3500 at the most. I thought we'd be able to find SOMETJING ...If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. It turns out that real people who want to ma... Reddit first time home buyer, [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1]