Homebuyer Basic Questions About Buying A Home

Dear Homebuyer:

Homeownership is becoming a reality for more and more Americans. During 2000, the US homeownership rate reached the highest point in history at  67.7%.. Yet many renters do not realize that qualifying for an FHA loan is within their grasp.

A home is a financial asset and more: your home is a place to live and raise children; it's a plan for the future; it's an investment in your future. That's why we want everyone to have an opportunity to enjoy the benefits of owning a home. We are proud to help first-time homebuyers and moving up buyers aquire FHA financing to purchase or refinance a home. Thanks to the FHA mortgage programs available though the Federal Housing Administration more than 80% of FHA home loans went to first-time homebuyers during 2000's.

Many home buyers don't understand that buying a home helps build wealth compared to renting.

Amortization-Each month you make a mortgage payment you pay down your loan. When you rent your paying down someone else's loan. Why not pay down your mortgage instead of someone elses?

Application- When the real estate market goes up your home increases in value. When you sell your house for more than you bought it for you make money. Dont forget you paid down your mortgage as well creating equity that you can put in your pocket when you sell your home.You don't get appreciation or get to take any equity with you with you rent.

Tax Shelter- First, you get to deduct all the real-property taxes you pay. Second, Our government continues to encourage homeownership and does so in part by making your interest on your FHA mortgage payments deductible. If the first five years of a home loan well over 90% of the FHA Mortgage payment is interest. If you're in the 30% tax bracket and paid $10,000 in mortgage interest x .30% tax bracked = $3000 in income taxes savings can be deducted on your tax return. You will not find tax shelter by renting.

Knowledge is said to open doors. This is literally true when it comes to buying a home. To become a first-time homebuyer, you need to know where and how to begin the home buying process. The following questions and answers have been selected to give you a foundation of basic knowledge.

FHA mortgage loans have  helped more than 30 million people become homeowners since 1934. We want to help you open the door to your own home.

Have Questions? Fill out a Quick Response form or (Apply Now).