Are YOU Still Renting?? Consider Buying!!

ARE YOU STILL RENTING?  CONSIDER BUYING!!  

Do you want to own your own home?  Do you want to invest in your future? If the answer is YES, you should REALLY consider buying your first home.  Many people just assume that owning a home on Maui is impossible, but with the right knowledge and tools, it is much easier to achieve than you may believe!  

WHAT IS YOUR FIRST STEP TOWARDS BUYING A HOME? GETTING PRE-QUALIFIED!

 This will let you know for sure if you will qualify for a home loan!  It will let you know how much you can & want to afford & best of all….getting pre-qualified is FREE.  What do the mortgage companies look at when pre-qualifying you for a home loan?  Credit Scores, Income, and have you been in the same field of work for at least 2 years?  Its that simple!  So head on over to your local bank or a mortgage broker you trust to see what you can afford (if you need a recommendation, please let me know!)

If you try to get pre-qualified, and do not qualify on your own for a home loan, let me help you think outside the box……

  • You can have a co-signer on your mortgage loan (possibly a family member) that is willing to help you get into your first home
    • consider offering them a portion of the sales when you sell the home in the future (it will make it a great financial investment for both of you!)
  • Consider buying with a close friend or family member that you can trust, you will both benefit from the investment
    • If you are already living with someone….. your best friend? your cousin? your brother or sister? considering buying a home together.  It is not just for husband’s and wives!
    • If you are not living with anyone….still consider a friend, brother, sister, cousin, Uncle or Auntie that may want to buy a home too!  Just because they are on the loan does not mean they have to live with you.  They can rent out their portion of the home to a friend of yours.  It is a win-win, they will make money from renting their part of the house and you will get to live with a friend!
    • Check out this site for more education on owning with friends and family to see if it is right for you Buying a Home with a Friend or Family Memeber
  • If theses options are still not realistic for you, at least you know where you stand financially.  Make a plan to increase your chances of qualifying for a mortgage in the near future

LOW DOWN-PAYMENT OPTIONS!

Many people believe that you NEED 20% down to buy a home.  This is FALSE!  Many mortgage lenders have loans that only require 3% down (depending on your credit) This money can also be “gifted” to you from a family memeber.

Remember that your first home does not have to be your dream home.  If you are renting, but can afford to buy something, anything, it will be a great financial investment for your future.  You will save money by paying yourself and not a Landlord, as well as receive tax benefits, and make money when you are ready to sell.

Click here to learn more about  Financial Benefits of Owning Your Own Home

Email me for more information ashley.mauihomes@gmail.com