Bend Oregon Home For Sale – How Much Money Do First Time Home Buyers Really Need?
January 29, 2016 – 12:15 am
Are you a first time home buyer and are thinking about buying a Bend Oregon Home Home if so, you’re not alone.
2016 is certainly shaping up to be another busy year in the local Real Estate market, especially for first time home buyers, and you can give yourself the advantage if you know exactly how much money you need to put down on a home.
20% Vs. 3% Down – Which One Is Better?
Although most people will tell you that in order for you to buy your first Bend Oregon Home Home you have to put down at least 20%, the reality is that you can buy a home in 2016 for as little as 3% down or even in some cases you can buy a home by putting no money down
Keep in mind that the less money you put down when buying a home in Bend Oregon means that you will ultimately pay more for your monthly mortgage payment so if you can wait to save a little more money it will only pay off in the long run.
If a family member, friend or relative decides to gift you the money that you need to put down 20% on a home make sure that you have proper documentation of those gifts because your lender will want to see documentation of income just so they will know that you have the ability to repay your mortgage loan.
Private Mortgage Insurance
The most important tip to keep in mind from this article is that if you put down a smaller down payment on a home you will also have to pay more for your Private Mortgage Insurance (PMI) each month so this could amount to an additional $100 or more per month that you will need to add to your monthly mortgage payment.
Buy a Bend Oregon Home
To get started with buying a Bend Oregon Home, or to view homes for sale contact the Debb Tebbs Group today by calling us at (541) 323-4823 or click here to connect with us online.
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Make 2016 The Year You Buy A Bend Oregon Home
January 14, 2016 – 6:00 pm
2015 was a great year to buy or sell a home in Bend and 2016 is going to be an even better year to buy a Bend Oregon Home because we will have more inventory for sale in Bend, Redmond, Sunriver and mortage interest rates are still low when compared to historical data.
If you’re planning on buying a home in 2016 here’s what you need to do to get ready to buy a home.
#1 – Get Your Finances In Order
This step includes purchasing your 3-in-1 credit report, saving copies of your bank statements, income tax returns and other financial data and making sure that you have proper documentation of income since lenders will want to know exactly where your income is coming from especially if you’ve received gifts to use for your down payment.
#2 – Hire A Great Realtor
Even though the Internet is full of online resources like Zillow and Trulia that you can use to find a home in 2016 the reality is that the data you will find on many of these websites is either inaccurate or outdated.
When you hire a Realtor® to find Bend Oregon Homes for Sale you will benefit from having an agent who works in the field on a daily basis and they will many times know of properties before they come to market and are listed online.
Working with a Realtor® will give you the competitive advantage over another buyer who is relying on online data for buying the right home.
#3 – Search For A Bend Oregon Home
Before searching for a Bend Oregon home make sure that you know what you’re searching for in a home including bedrooms, bathrooms, square feet, neighborhood and amenities because detailed information will help your agent to find the exact home that matches your home search criteria.
To get started with searching for homes in Bend Oregon contact the Deb Tebbs Group today by CLICKING HERE or calling us at (541) 323-4823.
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