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5 Stress Relieving Tips For First-time Homebuyers

Monday, June 27th, 2016

By Meghan Belnap
Moving into a new place is both exciting and challenging, and that is especially true if it’s your first time as a homeowner. Instead of allowing the process to overwhelm you, keep some tips in mind to help navigate through this exciting journey in your life.

Don’t Proceed Alone
You don’t need to take on the process of searching for and buying a home without assistance. Maintain contact with a real estate agent throughout the process. A well-qualified agent can assist you in searching for the perfect property.

Open Your Mind
Right now, you may have a list of all the features that you want in a house. You may have decided that you will only live in the community with the lowest crime rate and the best schools. Keep in mind that all of these desires cost money and you probably do not have an unlimited budget. Instead of maintaining such a myopic view of your new home, open your mind to the possibility of making some concessions.

Define Your Financial Ability
Opting for a pre-approval is a good idea so you know how much of a loan you can receive approval for. Once you obtain that amount, you might decide to spend the maximum amount. Doing so will likely prove uncomfortable for your budget. If you or your partner lost your job, you might not have the ability to keep your house at all. Try to start small with your first house purchase and avoid spending money beyond your means.

Take Your Time
Once you decide that you are in the right place to buy a house, you might be so eager that you rush through the process. Weigh the pros and cons of each house you look at. If possible, plan an adequate amount of time around the buying process to ensure that you have considered all your best options.

Prepare for Other Expenses
You need to find out if you are expected to pay closing costs upfront or if you can roll them into your loan. In some areas, the sellers will agree to pay for the closing costs. Not only do you need money for these expenses, but you’ll also need to cover other costs that are associated with moving into a new house.

Buying your first home can be both terrifying and wonderful all at once. Be prepared to invest in a financial investment like this by hiring professionals and making smart decisions. If home is where the heart is, allow yourself the time and care in finding the best possible place for you and your family.

Source: RISMedia’s Housecall

Century 21 AA Realty Long Island

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Friday, October 11th, 2013

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It’s that time Again

Friday, March 9th, 2012

Spring Ahead 2012

DAYLIGHT SAVINGS TIME

Begins this Sunday March 11.2012   2:00 am

Time to Set your Clocks Ahead

A handy saying used to remember what exactly you’re supposed to DO to your clocks during these times is this one

“Spring Forward, Fall Back” You have No idea how many times I have to tell myself this one as I’m changing my clocks.

Turn that clock ahead before slipping under the covers Saturday night. Don’t bemoan one night of 60 fewer minutes of sleep; there’s the promise of many months ahead with an extra hour of evening sunlight.

Did you know………   Not every place makes the switch. The exceptions are Hawaii, most of Arizona (Navajo Indian territories do observe the change), Puerto Rico, the Virgin Islands, American Samoa,
Guam and the Northern Marianas.

Standard time returns Nov. 4.

You don’t want your clock shifting at the wrong time, because that will only cause trouble for you!  No one wants to be early for work….or even worse. LATE for work!

Also a safety Reminder

This is a good time to Check your smoke detectors and change the batteries which should be done at least once a year!

Real Estate Market Update

Monday, November 7th, 2011

Click On Graphics Below for Each County

Suffolk County Statistics

Nassau County Statistics

Queens County Sales Statistics

GREAT NEWS FOR HOME BUYERS WITH LESS THAN PERFECT CREDIT SCORES!!!!

Thursday, March 24th, 2011

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Let’s be honest…There are a lot of potential home buyers with less than perfect credit who need a second chance loan in order to purchase the home of their dreams.  Many applicants have been rejected recently from mortgage programs because their credit score is too low for new lending guidelines that most lenders have implemented in 2011.  These buyers need to have the ability to buy at a low affordable interest rate.  Many people think this is NOT possible.

Well…if you are one of those people, I am here to tell you that I have very GOOD news for you!!!  Nationwide lenders have recently announced a FHA loan program that may open the door for loan applicants that have been rejected for home buying because of their low fico scores.  Borrowers with less than perfect credit may still be able to qualify.  Getting qualified for an FHA loan is very easy and the process is free of charge.  The process is easy and the reward is a home of your very own!!!

If this sounds interesting to you and you would like to receive some more information, please call our office at 631-226-5995 or 516-826-8100.  We look forward to hearing from you!!!!

INTERESTING INFORMATION ABOUT FHA MORTGAGE LOANS…READ ALL ABOUT IT!!!!

Wednesday, February 23rd, 2011

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For those of you that do not know, an FHA loan is a mortgage insured by the Federal Housing Administration.  It has several key components.

LOW DOWN PAYMENT ~ FHA loans usually require just a 3 1/2 percent down payment.  This down payment can also be gifted to the borrower, which makes home ownership more obtainable for the first-time home buyer.

CLOSING COSTS ~ Closing costs can be financed as part of your overall mortgage amount which is a huge benefit.  This allows buyers to buy without requiring large amounts of cash.  Typically up to 6 percent of the sale price can be financed for a buyers closing cost.

EASIER QUALIFYING ~ Those with less-than-perfect credit are more easily approved for a loan through FHA programs because the federal government insures them.

THE WONDERFUL ADVANTAGES OF AN FHA MORTGAGE

VERY FLEXIBLE UNDERWRITING WHICH ENSURES EASY QUALIFICATIONS AND APPROVALS

AFFORDABLE MONTHLY PAYMENTS

LOW FIXED RATES ENSURE YOUR MORTGAGE PAYMENT WILL NEVER INCREASE

High interest rates do not exist with FHA Mortgages.  You will not be sold    into a risky sub-prime adjustable mortgage with unpredictable rates and payments.  Your payment will remain fixed for 30 years at a low interest rate!!

If you would like more information, please call us at 631-226-5995.  We look forward to hearing from you!!!!


Suffolk: 1596 Straight Path, Lindenhurst, NY 11757 (631) 226-5995 •   Nassau: 3900 Sunrise Highway, Seaford, NY 11783 (516) 826-8100
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