There are so many tools out there specifically made for First time Buyers.
I was recently certified for a mortgage assistance program that would help you make your monthly payments for two years. How this works is the seller, either on a resale or a builder, instead of dropping the price of a home puts an amount in a sort of escrow account that the buyer receives every month for two years. This two year window allows the buyer to be able to receive a negotiated amount ranging from $250.00 to $1,000.00 a month whilst fixing or refining his or her credit. The two year window is used ideally for fixing credit or hopefully to raise some equity for a better loan scenario on a refinance.
This could be a great tool for Buyers as well as a great incentive for Sellers!
Log on to Luis@WalnutCreekHomes.com for more information.
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