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A House Charlotte inspection is required at no charge to the buyer which we will set up on behalf of the buyer. No inspection is required for new construction homes less than 6 months old. Click below to learn more about the home buying process and the assistance we will be able to provide you. You may be able to take advantage of special loan programs for first time Buyers.
Funding up to $10,000 for families with income above 80% Area Median Income , up to 110% AMI in certain locations. A lot of our best purchases came from the worst inspection reports. As a buyer, especially if it's your first time, you need to remember that it's the inspector's job to tear the home apart. One of the best things you can do when buying a first home is to understand that this is not your forever house. Don't be afraid to buy a house that is well below your price range... The real mistake is trying to reach for your dream house the first time around.
First Time Home Buyers
We can evaluate you for eligibility and refer you to one of our professional and qualified Lenders to help you find the perfect loan program for your needs. All the organizations we’ve listed above should provide advice freely to any first-time home buyer in the state of North Carolina or their local area. I'll walk you through the mind-boggling financial components of buying a home, including the different mortgages and home buying programs accessible.
One of the most important aspects of negotiations is to determine the seller's motivation. This will help you understand just how motivated they are to sell their home. Some of the most common reasons are they relocated, bought a new home, downsizing, divorce, death and more. Knowing the motivation will help you prepare better for the negotiating process and you can use that in your offer.
Local Realtors®At YOUR SERVICE
Due diligence and Earnest Money are two of the most common terms in a North Carolina Real Estate transaction. Due Diligence is the money you pay to the seller to take the home off the market and allow you a 'due diligence period' to inspect the home. You are not going to get your due diligence money back after you hand it over to the seller because this money is guaranteed to them after yougo under contract.
With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
How much money do I need to purchase a home in Charlotte?
With a FHA loan, you will be able to borrow up to 96.5% of the purchase price of a home. The funds for the down payment using a FHA loan can originate from your own personal funds, gift money from your friends and family, or a down payment assistance program like the House Charlotte program. Some of our programs may allow you to purchase a home with no down payment or PMI, which can save you hundreds of dollars each month. Each of the steps have to be completed successfully in order for a home buyer to become a homeowner. While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range.
He even put people into the first time home buyer programs that owned a home before and that where turned down by other real estate companies and lenders. The First -time home buyer series itself if hands down a must-see. It provides a great insight into what working with me will be like as your Charlotte real estate agent– whether you are buying or selling. Although it not required, hiring someone with experience and with the knowledge to work towards your best interests will be tremendously helpful. Realtors have worked with first time home buyers before, they have been through the process of buyers applying for loans.
No Money Down Home Purchase Loan
If you're buying your first home your Realtor will walk you through the home buying and negotiating process. Obviously, it's difficult to do since buying a home is an emotionalprocess, if you can take emotions out of it you will have far more success. At uphomes, we believe we have some of the best Realtors in Charlotteworking for our brokerage because we only work with people who are trustworthy, know how to execute and provide great customer service. Part of your home search is going to include finding the best Realtor to work with you.
Lender requirements are tougher today, so it is important to make contact with a lender as early as possible. The Pruitt Group has lending partners that offer a variety of mortgage products and programs, and we can help you get started by applying online. Also feel free to use our mortgage and finance calculators to help you evaluate home price affordability. To be eligible for its home buyer assistance program, your household income can’t exceed $99,000 per year. There are other conditions too, which you’ll find on the NCHFA website. No matter what type of market there is a lot to know when it comes to buying or selling a home.
“I was asked if I had a great story to share from a recent first time home buyer in the Charlotte, NC area. After both Danaya and I interviewed we were told we were chosen! I can honestly say this is a true story about her journey to buying a home in Charlotte, NC.” says Danielle Edwards. Looking to up your game when it comes to getting into the Charlotte housing market? This real estate “reality” TV show is a must-see and you can watch the series on HULU or YOUTUBE.TV. Maximum purchase price is $315,000 for new construction properties.
A representative of Pruitt Miller Realty Group will contact you for a confidential telephone consultation. Peter Contastathes, Owner of Forward Realty has put together one of the best first time home buyer programs for Forward Realty clients here in NC & SC. He has bin putting hundreds of First Time Home buyers into homes for years, that thought they would never own a home due to credit, money down and other factors.
Very rarely are there first time home buyers that have stacks of cash just laying around. Finding the right information will benefit you greatly in this process, make sure you are getting the best information out there. Not everything you find is valuable or correct for that matter.
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