Top Agent Advice for First-Time Home Buyers Looking for the Right Property

Credit is an important part of buying a home. Lenders will scrutinize your credit history to determine if you are qualified to buy a home and what interest rates and fees to charge. The difference between having just okay credit and good credit can cost you tens of thousands of dollars over the life of …

Getting a home inspection during your sale pending period is a vital  and many times required  part of the process. Your real estate agent should have a list of home inspectors in the area with good reputations. You may also want to check with the Better Business Bureau or similar organizations to insure you re …

State and local governmental agencies and joint powers authorities can issue tax-exempt mortgage revenue bonds (MRBs) or mortgage credit certificates (MCCs) to assist first-time homebuyers purchase homes. MCCs are designed to reduce homebuyers federal tax liability by applying the credit to their net tax due and can be used with conventional, fixed-rate, FHA, VA and …

To access funds for rental assistance programs, Housing Authorities respond to Notices of Funding Availability (NOFAs) published in the Federal Register. Each NOFA identifies allocation areas, amounts of funds available per area, and the selection criteria for rating and ranking applications. Public Housing Authorities are given at least 30 days to submit applications. Interested households …

Beginning June 15, Fannie Mae and Freddie Mac will require mortgage servicers to make decisions on short sales under new guidelines, specifically: acknowledge the documentation was received within three business days; notify the borrower within five days if more paperwork is needed; review and respond to a borrower within 30 days of receiving all documentation for …