Why should I buy, instead of rent?
A home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you'll enjoy having something that's all yours - a home where your own personal style will tell the world who you are.
Can I become a homebuyer even if I have I've had bad credit, and don't have much for a down-payment?
YES, you Can!! You may be a good candidate for one of the federal mortgage programs. Cethron Properties can help you sort through your options. We can also help you to see if there are any local homebuying programs that might work for you.
Are there special homeownership grants or programs for single parents?
Cethron Properties can help you! We will help you to become familiar with the homebuying process. Although as a single parent, you won't have the benefit of two incomes on which to qualify for a loan, we will help you in getting pre-qualified, so that when you find a house you like in your price range you won't have the delay of trying to get qualified. We can help you with research on buying a HUD home, as they can be very good deals.
Should I use a real estate broker? How do I find one?
Using a real estate broker is a very good idea. All the details involved in home buying, particularly the financial ones, can be mind-boggling. A good real estate professional can guide you through the entire process and make the experience much easier. Cethron Properties is well-acquainted with all the important things you'll want to know about a neighborhood you may be considering...the quality of schools, the number of children in the area, the safety of the neighborhood, traffic volume, and more. We will help you figure the price range you can afford and search for homes in your price range. With immediate access to homes as soon as they're put on the market, Cethron Properties can save you hours of wasted driving-around time. When it's time to make an offer on a home, Cethron Properties can point out ways to structure your deal to save you money. We will explain the advantages and disadvantages of different types of mortgages, guide you through the paperwork, and be there to hold your hand and answer last-minute questions when you sign the final papers at closing. And best of all, all our service are FREE, you don't have to pay us anything! The payment comes from the home seller - not from the buyer.
By the way, if you want to buy a HUD home, you will be required to use a HUD registered real estate broker to submit your bid. Cethron Properties is HUD registered and authorized to submit HUD contracts.
How much money will I have to come up with to buy a home?
Well, that depends on a number of factors, including the cost of the house and the type of mortgage you get. In general, you need to come up with enough money to cover three costs: earnest money - the deposit you make on the home when you submit your offer, to prove to t