Wednesday June 12, 2013
Way to go! You’ve decided to trade in your rent payments for mortgage payments on a home you can start to put down roots. Though being a first time homebuyer is exciting it can also be overwhelming and nerve-racking. You may not know where to start or what information is valid to your homebuyer journey.
Now that you’ve narrowed down your location and know what you can afford, it’s important to know other information pertinent to you becoming a homebuyer. A plethora of information can be found on the Altura Homes Finance Information page regarding financing, fixed and adjustable rate mortgage payments and other important questions key to becoming a new home in Dallas TX first time homebuyer.
There are various programs available for first time home buyers as well. For first time homebuyers in Dallas, these include but are not limited to the Home Buyer Assistance Program and Taxable Mortgage Program. Through the city wide home buyer assistance program, monies are available for fist time homebuyers at up to 80% of the Area Median Family Income for principal savings, down payment and closing costs assistance up to $8500. My First Texas Home’s Taxable Mortgage Program gives more competitive fixed interest and annual percentage rates that offer down payment and closing cost assistance of 5% of the mortgage loan. Coupled with Mortgage Credit Certificate Program, your future Dallas TX new home can become more affordable, leaving you with money to furnish and decorate your beautifully crafted humble abode.
To get an overall view on buying a home, check out the U.S. Department of Housing and Urban Development site. This will provide you with an overview and answers for the various steps during the homeownership from selecting a home and securing a loan to getting it inspected and signing on the dotted line to close the deal.
Knowing the resources readily available will help you become a well-informed first time homebuyer of a new home in Dallas TX. Happy researching!