Reddit first time home buyer

r/FirstTimeHomeBuyer. • 2 yr. ago. nyelnatalia. First time homebuyer??? where are all these so-called perks!?? PLEASE HELP. Hi guys, my husband and I are first time …

6 days ago · The $10,000 First-Time Home Buyer Tax Credit is a mortgage relief program to help low- and middle-income households stop renting and start owning. The program gives eligible buyers $5,000 a year in tax credits for their first two years of homeownership. Tax credit money can be used for any purpose. Talk to a realtor. Watching videos might help to an extent but going and checking out houses witha realtor is the best way to learn. Even if you are not ready to buy now tell your realtor about that upfront. 2. JerseyKiwi. • 1 yr. ago. I bought the Dummy's series book on first time home buying, just off Amazon. The house was pretty tidy & I wanted to be aggressive. Thus I did asking price, mind you the home is a unicorn. If you have regrets about not asking lower just roll with the inspections and be thorough. Post Inspection you can ask for repairs,credits,lower price. You still have control, I’m selling & the potential buyer performed 4 inspections. I read that it could just be air quality issues and most of these could be remediated with a deep clean, HEPA filters, and dehumidifier, but being a first time homebuyer and listening to the speech of how it shouldn't be above 250, I'm starting to freak out. Any advice would be much appreciated!I won’t lie, I sometimes even rent a hotel room if a date is going well enough (and they’re still around after I explain my current living situation) so we can have some privacy. The Finances: Salary - 79k. Take home - 5200 a month. 401k - stopped this completely to save for a down payment faster. Monthly reoccurring Expenses:First-time home buyer programs in Chicago or Illinois. As the title says, I’m hoping to purchase a condo in Chicago before the end of the year. I know there’s a lot of resources to help first-time home buyers but wondering if anyone can lend some insight to programs they participated in (e.g. SmartBuy, etc.) I don’t want to get to the end ...Hey everyone. Looking for some guidance in regards to buying my first home. looking for a house priced around $400,000 and I’m well above my 5% down payment for it. Unfortunately I don’t have a ton of knowledge towards interest rates so I really just want some guidance on if right now is an okay time to buy?

Dec 9, 2021 ... Unless your parents are dropping $100k on you for a down payment, plan on saving up 5% for down payment, plus closing costs, and a cushion of ...The median price for an existing home jumped to $356,700 last month, a 14.9% increase from the same period last year and the 114th month in a row of year-over-year gains. That price jump seems to have boxed many first-time homebuyers out of the market. They made up just 29% of home sales last month, a dip from 30% the month prior and 33% last year.First time home buyer Questions. I've been working for a year out of college and have about 50k in cash saved up and make 80k/year before taxes. I'm hoping that will be enough for a down payment on a townhouse (<300k) but I'm just lost and confused at this gigantic task before me. What resources would you guys recommend for first time home ...Buying a home is one of the biggest investments you can make. With the right research and knowledge, you can find the perfect manufactured home for your budget. This guide will hel...There are a couple of programs that are available nationally. Check out National Homebuyers Fund, Chenoa Fund, and Neighborhood Assistance Corporation of America. A few lenders also offer assistance, for example Bank of America, Chase, and Ameris bank (not sure if this last one is in your area). Hope this helps, good luck!! Not sure what’s going on, assuming it’s a house the rate is crazy high. $1440 is also high for an application fee, they’re making great money off the rate itself and still charging $1440 and including fees like credit report and employment verification fees (yes these are actual fees but they can include it in the application fee if they ...

151. 335K subscribers in the FirstTimeHomeBuyer community. The ultimate subreddit for everything a first time home buyer NEEDS to know.My wife and I are in the process of hunting for our first house and we're looking for opinions/guidance with regards to 30 year fixed vs ARM. Here are the quotes we have comparing the two, I am still waiting for additional details on the ARM regarding if the period is 5/7/10 years as well as what the caps are on increases.. We are more than capable of …The parents would give me the space but I would just rather avoid the situation as a whole. I won’t lie, I sometimes even rent a hotel room if a date is going well enough (and they’re still around after I explain my current living situation) so we can have some privacy. The Finances: Salary - 79k. Take home - 5200 a month.

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So, in year 16, there will be 1 adjustment up to 6.5% (cap on rate increase). I’m betting that I would have sold by that point or refinance. I’m willing to take that risk though, because the difference in equity and payments for that first 15 years is so much when comparing 2.5% to 4%. 1. wikipedia_answer_bot.Answering First Time Home Buyer questions on Reddit! I spend a lot of time on r/firsttimehomebuyer and I wanted to take some of the best questions to ask a …Tips for First-Time Home Buyers. Learn strategies for saving a down payment, applying for a mortgage, shopping for a house and more. By Barbara …I just bought a house a few weeks ago. One thing that stands out for me is the sewer system. Have it inspected. Eight days after closing on my house, lower level flooded due to clogged sewer lines in the front lawn.FL First time home buyer program. Hello there Floridians, It’s been a couple of years since I thought of buying a starter home here in FL (central FL ~200k max) due to increasing rent prices. and now I’m doing my due diligence to gather much information in buying my first house and though maybe I could pick your thoughts or experiences with ...

May 31, 2023 ... Unless you're paying cash, talk to a lender and get preapproved first. Make sure when you're budgeting you take into account taxes, insurance, ...With the rising popularity of electric vehicles, more and more people are considering purchasing a Tesla. One of the key concerns for potential buyers is the availability of chargi...Tips for first time home buyers. We may be purchasing a house this year (northern Virginia). What are some things that you wish you had known or done before purchasing … First Time Buyer - Any Advice? Hey all, This is a pretty generalised post, but in the next 6 months I’m looking to get the ball rolling on purchasing my first home. Living in the South East (Berkshire) and looking for any advice on what to look for, even any area recommendations. Property budget is up to £230k. by koala5643. First-time home buyer! Is 5.29% a good rate for 2022? **EDIT: 5.49%, not 5.29%! Just got pre-approved from Chase for $350k* for a condo in Chicago. They've offered a 5.29% interest rate on a 30-year fixed loan. Our annual gross income is about $125k, and we carry no debt. My credit score is 740-799 range and his is 800-850 range.I'm close with my dad and we'd like to buy a place together with my GF. My salary is 65k a year base and at least a 13% yearly bonus (usually 3-5%more). 13% is a conservative guarantee. $35k cash saved, $50k in my 401k (I put 15% away with a 4% company match), no debt other than $8k left on a car loan at $160 per month.grossly underestimated the cost of ownership. Maintenance is expensive and I only focused on the big items (roof, heater, fence etc.). small things like buying the tools to DIY, even if you buy second hand could add up quickly. Cost of utilities might be much higher. It is time consuming to own a home.Answering First Time Home Buyer questions on Reddit! I spend a lot of time on r/firsttimehomebuyer and I wanted to take some of the best questions to ask a … Hello! I recently offered on a house and backed out after inspections which cost me $2100. I now have $2055 and a house I like that is 190k. My dad is going to give me 10k as a gift to purchase a home. Sep 13, 2023 ... It would depend on your situation but a conventional loan is generally the best. Waiting on interest is only something you can decide on ...They make the process fairly simple and all you need to do is fill some forms out. 3 - In regards to contracts, there are some Conveyancing companies that do free contract reviews and only if your successful will then expect you to use them for the sale. Some other companies charge $200-300 just for a contract review.

The lender should not be telling you how much you can afford. All they do is tell you how much they're willing to lend you. Just because they'll lend you the money, doesn't mean you can afford to borrow it. On paper, I can get approved for a $800k mortgage, but the reality is I know it would ruin my finances to do so.

First of all, you don't need 20% down and honestly you probably shouldn't attempt to pay that for your first house. Concentrate on getting a house/location you don't hate, but look to probably put 3-5% down, plus about $10k in closing …The ultimate subreddit for everything a first time home buyer NEEDS to know. Members Online I close on 11/16 and my rate is 7.625% is it worth tying to go back to the lender since the rates they offer now are closer to 7.25%The lender should not be telling you how much you can afford. All they do is tell you how much they're willing to lend you. Just because they'll lend you the money, doesn't mean you can afford to borrow it. On paper, I can get approved for a $800k mortgage, but the reality is I know it would ruin my finances to do so.First time home buyer loans have different underwriting guidelines, which usually includes limits on household income, and this is the main reason why someone purchasing their first home, might not qualify. That's not a bad thing by any means, it just means that you were more qualified and better prepared than the average first time buyer.Your realtor will tell you to waive contingencies when making an offer. Money talks. If the cash offer with no inspections if $50k less than yours they will have a hard time turning you down. 3% earnest money, 30-35 days to close with an inspection and finance contingency is more common in the bay area.Depends on the area and family size. I think long island, 2-3 person single family home capta the HHI limit around $126k. What county are you looking and how big is your family. Jmitch680 • 1 yr. ago. Oswego county and just me and my wife. Jmitch680 • 1 yr. ago. For Oswego county with a 2 person income, the limit looks to be $62,710.Artful Home is an online marketplace that connects buyers with unique and handcrafted artwork from independent artists. With their commitment to customer satisfaction, Artful Home ...Hey everyone. Looking for some guidance in regards to buying my first home. looking for a house priced around $400,000 and I’m well above my 5% down payment for it. Unfortunately I don’t have a ton of knowledge towards interest rates so I really just want some guidance on if right now is an okay time to buy? Well a few things. In certain states, first time homebuyers are exempt from paying transfer taxes which are very high where I live. Down payment assistance programs are great. We made just under enough money, and things lined up perfectly. They exist for first time home buyers.

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The market cost is high right now but the Feds are raising the interest rate in March. That means do you want to pay a lower interest on a house now at a higher cost or you could wait and risk the market crashing because of the interest hike. If the market crashes you will get a house for thousands cheaper but will the interest rate raising ...The median price for an existing home jumped to $356,700 last month, a 14.9% increase from the same period last year and the 114th month in a row of year-over-year gains. That price jump seems to have boxed many first-time homebuyers out of the market. They made up just 29% of home sales last month, a dip from 30% the month prior and 33% last year.Here are six first-time home buyer loans and programs that are worth exploring. FHA loans are government-insured mortgages that require as little as 3.5% …If your home value increases to $300,000 your payback would be 5% of the current value or $15,000. • ⁠You receive a 5% incentive of the home’s purchase price of $200,000, or $10,000 and your home value decreases to $150,000, your repayment value will be 5% of the current value or $7,500. Given the historical appreciation in housing prices ... Hello! I recently offered on a house and backed out after inspections which cost me $2100. I now have $2055 and a house I like that is 190k. My dad is going to give me 10k as a gift to purchase a home. I think the max you can get is $400K regardless of income. CFCU has one too, but you need a higher credit score than the SECU one. SECU also has a template to show you what your APR would be based on loan terms. Overall we needed about 10K in cash for closing costs, inspections, survey, etc. and we did 100% financing.Learn. First Time Home Buyer Tips. First-Time Home Buyer Tips: A Guide. March 12, 2024 9-minute read. Author: Carey Chesney. The lure of first-time homeownership is …Are you in the market for a new television? With so many options available, it can be overwhelming to navigate through the sea of choices. Whether you’re upgrading your current TV ...Reddit users share their advice for first-time homebuyers, from budgeting to inspections to location. Learn how to buy a house with someone you are not married to, … ….

Open menu Open navigation Go to Reddit Home. r/FirstTimeHomeBuyer A chip A close button. Reddit Recap Reddit Recap. Get app ... I’m not sure if any bank works and you can just declare that account as your first time home buyer savings account Wish there was more info available. Reply reply more replies More replies. More replies.We make $110,000 a year combined and are 21 and 22. Have paid off cars that will need replaced in 1-2 years and 3-4 years. Building quotes for our dream home unfinished basement is $2700-2800/month + ~$400 …Condo in Brooklyn, NY. 810 credit. $985K cost. ~50% down (wanted a nicer place, but had to put down more to make the monthlies more affordable). 3.79% fixed rate, 30-year through First Republic's Eagle Loan program. Closed in March this year, but had the mortgage commitment from First Republic in January.The parents would give me the space but I would just rather avoid the situation as a whole. I won’t lie, I sometimes even rent a hotel room if a date is going well enough (and they’re still around after I explain my current living situation) so we can have some privacy. The Finances: Salary - 79k. Take home - 5200 a month.First-time home buyer programs aim to simplify the financial challenge of buying your first home. They can provide benefits such as competitive mortgage rates …I think the max you can get is $400K regardless of income. CFCU has one too, but you need a higher credit score than the SECU one. SECU also has a template to show you what your APR would be based on loan terms. Overall we needed about 10K in cash for closing costs, inspections, survey, etc. and we did 100% financing.Moral is, be sure to get it inspected and pay close attention to the basement/crawl space. “You can change anything about a house except it’s location. It’s better to have the worst house in the best area than the best house in the worst area.”. The ‘ol standard investment advise.We fell in love with the first home we ever looked at due to a vertical foundation crack and a bulging wall. Very similar issues (sloping property, poorly managed drainage, etc). This was going on 3 years ago. They now need a ranch-style home (there is a bedroom and a half bath on the first floor, but no shower or bath), but it is difficult to move. Plus, since we are in a state that caps property tax increases yearly, they are likely going to purchase a smaller home and pay more taxes, which is a financial consideration. Reddit first time home buyer, [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1]