Buying Information

Posted by Pam Arnold on Monday, September 24th, 2018 at 4:59pm.

Buying a home is the most important thing you can do for yourself financially. It doesn't matter if it is a Single Family House, a Town House, or a Condo. What does matter, is that it will likely be the largest single investment that you make. There are many myths surrounding purchasing a home. The one I always here is that the potential buyer does not have a down payment... Well, gone are the days of 20% down or no loan, but recent surveys reveal that many Americans are not aware that programs exist to put down less. My favorite program is CHFA. CHFA allows a buyer to have $1,000. as a down payment. Sometimes CHFA will give you up to 5% to help you purchase a home. Call me for more information on this....720-933-4009

Let me say one more thing about buying a home... If you bought a home, and the housing market crashed, you would still have a place to live, and after you pay off your mortgage, you will still have whatever equity if you sold that home. Example: you buy a home for $300k you pay your mortgage off. You want to retire, so you sell your home for $200k.... That still gives you $200k you would not have if you had been renting. if you own your home you pay your mortgage. If you rent your home, you pay someone else's mortgage.

 

It has significant value to your situation. 

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