Thread: I want to buy a home!

It will depend somewhat as to where you are in the country. In florida, there are some great incentives for Teachers for mortgages as well as down payment assistance etc. Your best bet would be to get yourself a Realtor and a good mortgage broker and speak with them about your options.

In Tampa, FL there is a program that helps teachers, police officers, and firemen obtain a loan.

You need to shop for a mortgage (thru your bank or thru a broker) ask friends/family for a referral if you don't know where to start. Shop for a real estate agent, again ask for a referral from someone you know.

Don't be an emotional buyer, take time to study the neighborhoods, the schools, the area around - does it have the services you need? Gas stations, malls ... Also think in terms of resale; when it is time for you to move up will you be able to sell the home (ie: if you settle for a 2 bedroom, one bath in a neighborhood that most homes have 3bd/2ba then it may take more time to resell).

Good luck, and enjoy the process! You have already taken your first step at becoming a home owner!

You could always buy the house directly from the home owner. You could very possibly get a very good deal that way. Also, you could buy a home from a landlord who will hold the financing for you. This is a great way for you to get in cheap and pay the Landlord instead of a bank. You will want to learn a little about "owner financing" options or "land contracts" before doing any of the paperwork. You could also look for Lease/Option ads in the newspaper. In this case you would have a lease on the house with the option to buy it at a future date for a fixed price. A good real estate attorney will know the in's and out's and will be able to explain them to you. Good luck.

JCDykes
Western PA's home buying solution