18 Feb 2008 04:53:16 | Jeff Little
Checking out your Check Book: When a first home purchase isn't
quite within your grasp
Checking out that balance in the checking account again? Barely
got enough to save after paying bills, buying groceries and
putting gas in the car? Understandable. But, you ask, "How am I
ever going to afford a house of my own?"
That is the ultimate question for many potential home owners.
They live in a vicious cycle of trying to save money for a down
payment while being vigilant in paying bills on time to keep a
good credit rating, only to find their dream home is never quite
within their reach.
Mortgage Revenue Bonds
Have you not heard about MRB - Mortgage Revenue Bonds? It's the
ONLY federal government program that is available low-income,
first-time home buyers.
Oh, I can hear you now: "But I'm not really low income." Well,
surprisingly, you really don't need to be dead broke to reap the
benefits of this program.
I see your ears perking up. "Tell me more," you say. To qualify
for this aid, you can earn as much as 115% of the median family
income for your area (that figure is based on the fact that your
family includes you and two dependents). You can call your state
Housing Finance Agency to discover the median family income for
your area. The second criterion is that the house you purchase
is your principal residence (a second vacation home obviously
doesn't qualify) and whose cost does not exceed 90% of the
average cost of a home in your area.
Hey, wait before you run around checking this program, check out
http://www.a-real-estate-guide.com where
you'll find an abundance of information for home buyers (home
sellers and anyone interested in investing in real estate). This
free, informative resource is dedicated to providing you the
tools to educate yourself in both buying and selling your home.
http://www.a-real-estate-guide.com A Real
Estate Guide.comreceives current news articles daily on a
variety of topics of interest to home buyers. It also contains a
variety of mortgage calculators, so you can decide if you can
afford that house payment and the accompanying extra expenses of
home ownership.
Before you make another move towards home ownership, you need to
arm yourself with all the vital information available to you for
free at http://www.a-real-estate-guide.com. Happy
house hunting!
Jeff Little...
http://www.a-real-estate-guide.com
About Author :
Jeff Little is an accomplished real estate investor offering
free advice for on his website http://www.a-real-estate-guide.com regarding
residential buying and selling, including For Sale by Owner.
Also included is new 42 page FSBO manual, for those interested
in handling the sales process themselves. Visit Today!
