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Buying a Home Now or Saving Up For a Better Home

A common question that I often hear from potential first time homebuyers is, Should I buy a house now with little or no money down, or should I save up until I can afford what I want?

It is always better to buy a home sooner in life than later. There are still plenty of First Time Homebuyer loan programs that require little or NO Down Payment.

The sooner you can buy your own home, the sooner you will start to see potential tax benefits and start building your equity for your future.

Also, the problem with waiting and saving up some money is that if you are not in a habit of saving money now, in reality it will be difficult for you to start saving money. Saving up money is a difficult habit to get started and if you have years and years of practice NOT saving money, it is difficult to reverse. Not impossible though, but very common.... View the rest of this article by visiting BuyerBeWhere.com at the link above...


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House Hunting With Otis
With the LA housing market finally pulling back, it's time we teach Otis how to spot a deal.


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80 10 10 Mortgage Loan Programs How Do They Work

An 80 10 10 mortgage loan program is a type piggy back loan that borrowers will sometimes use to avoid paying private mortgage insurance. The fees on this type of mortgage insurance can be as high as 1percent of the total value of the property each year, and borrowers are eager to avoid the expensive monthly payments if possible.

Most banks or lending institutions will insist that a borrower take out private mortgage insurance of they do not have a deposit equal to 20 percent of the homes appraised value. If you can deposit this much, you will not need the expensive insurance, and additionally, once your repayments have contributed 20 percent of the homes value then you will no longer need to continue paying for the insurance.
... View the rest of this article by visiting BuyerBeWhere.com at the link above...


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