|
 Maybe you CAN buy a home!
Owning your own home is an important step toward financial security. VHDA's Wealth Starts @ Home Program offers a series of free seminars to develop a personal strategy for building wealth through homeowners program is available through partnerships with churches, colleges and universities.
Are you ready to buy a home?
Only you can decide, but being fully informed is the key to making the right choice. Ask yourself:
- Do I like the city or town where I am living?
- Do I think I will move, and if so, how soon?
- Can I handle the responsibility of a mortgage?
- Can I handle the repairs and improvements that come with owning a home?
Sign up for a FREE class on homebuying at VHDA.
This class covers the entire homebuying process. For a class schedule, or to learn how to take the class on line, visit vhda.com or call 877-VHDA-123
Owning a home has advantages over renting - such as:
- Monthly payments that build equity, increasing your personal wealth. After several years of making payments, you may be able to reinvest your property's growing equity into a larger or better house.
- Significant tax advantages, because the interest on your home loan may be deductible.
- In many cases, a safer, more stable neighborhood.
- The ability to personalize your home.
Build a foundation to buy a home.
- Open a bank account to save for your purchase.
- Use credit carefully - just enough to show you pay your bills on time.
- Be responsible for your debt, not the debts of others. When you co-sign a loan for a family member or anyone else, you are equally liable for any money owed.
When you are ready, buy smart.
- Let a real estate professional help you when you decide on a specific house. And remember, it's the seller, not the buyer, who pays the real estate agent.
- Work with a licensed, professional mortgage lender. Don't sign anything without professional guidance.
- Be patient and postpone buying a car, major applicance or other large purchase until all the paperwork is signed and approved on your mortgage loan.
Protect your home investment
- Save for house repairs and maintenance.
- Resist opening a lot of credit card accounts.
It starts with your credit
Credit is the money you borrow to pay for things like your car, refrigerator or college tuition. Your credit score plays a major role in detemining how much money you can borrrow and the type of loan programs offered to you.
A good credit score means you have kept your promises and made your payments on time.
Get a FREE copy of your credit report!
LOG ON TO: AnnualCreditReport.com
|
