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First Time Home Buyer

Miramar lawyer > First Time Home Buyer

FHA Loans: What All First-Time Homebuyers Need to Do First

FHA loan closings

FHA Loans: What All First-Time Homebuyers Should Know Before Purchasing FHA-insured loans have helped many traditionally high-risk borrowers realize the dream of home ownership, but it’s important to note the Federal Housing Administration (FHA) does not issue mortgages; rather, it insures them. The loans must originate from qualified lenders who have been approved by the FHA. The insurance provided by the federal government lessens the risk for lenders and makes it possible for individuals to purchase a home without making a cost-prohibitive down payment. While the program is designed to provide assistance to help people reach their goal of home ownership, there...

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10 Tips to Keep in Mind When Buying Your First Home

first-time homebuyer

What to Keep in Mind When Buying Your First Home   A checklist of steps to take and information to know before you buy your first home. Before looking at some helpful tips for first-time homebuyers, let’s look at who qualifies. Naturally, people who have never owned a house meet the criteria, but under Federal Housing Administration (FHA) guidelines, which uses the Internal Revenue Service’s definition, a first-time homebuyer is anyone who has not owned a principal property in the past three years. This means even if you have owned multiple homes or have dealt with foreclosure, you can still qualify for many...

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How First-Time Homebuyers Can Get the Most out of HUD

first-time homebuyer

Using HUD as a resource and understanding what the department can and cannot do for you. Choosing to purchase a home is both a complicated and intimidating decision, filled with questions that continue to build throughout the process. This is particularly true for a first-time homebuyer. Where do you go? What do you ask? Why isn’t this easier? It can be a lot to sift through. The good news, however, is that help is available. The federal government has an established resource, The Department of Housing and Urban Development (HUD), which can not only help answer most of your questions, but also...

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