$200,000 | 4 Beds | 3 Baths | 2,080 SqFt
Welcome home to this beautiful 2 story | 4BR | 2.5 BA in a private country setting on a beautiful 0.92-acre lot with a large deck. Home features den/study, formal dining, living, family room with wood burning fireplace, country kitchen with dinette & 2 car garage. Unique ceiling patterns and details add character & charm. Home is on a quiet street with great neighbors.
Of the many things on your to-do list when house shopping, “stress” should not top the list.
Granted, buying your first home, or simply a “new” home, is a major event and brings about many issues to deal with and decisions to make, but why not make it fun?
The key to being able to enjoy this exciting time in your life is to be organized. Don’t allow all the options to overwhelm you. Lay out your list of things to-do, then work the list.
At the top of that list should be to find a GREAT realtor! There are many “good” Realtors out there, but why settle for “good” when GREAT is an option?
Allow your realtor to do their job and take the stress off of you! They want to help in any way possible and have the tools necessary to make the process of house hunting an enjoyable one! Using the MLS makes finding your dream home a breeze with the criteria you provide!
Next, getting pre-approved really helps with the entire process. It allows you to have a very accurate idea of what you can afford to pay for your future home. It also tells the bank, your realtor and potential sellers that you are serious about buying and organized in your approach!
Now that you’ve found the “perfect” realtor and are pre-approved, you need to provide your realtor with a top ten list. This list should include the top ten priorities or desires you have for your future home. Location, size and price are usually at the top of the list somewhere and then you can begin to think about the details that are important to you! It’s exciting, right? Think about the things that are comforting to you; that will send a home over the top. A nice den with a fireplace or a great back yard? The sky is the limit!
Finally, believe that the “Perfect” home for you is out there! Don’t stress over looking at several homes, look at it as an opportunity to fine tune your criteria! Embrace the blessing of being able to choose where you will continue the next phase in your journey through life!
Under the FHA rules, a parent can co-sign a loan for their child. The property is owned in the child’s name, not co-owned with the parent. FHA puts all of the income and debt into one calculation, so it is possible to have a child who does not earn any income purchase a property using FHA financing with a parent co-signer.
Regarding the number of properties that can be purchased, it appears that we’re in a grey area. An FHA buyer cannot buy another property using FHA unless the previous home has been sold. That specific rule doesn’t apply to a non-occupant co-borrower, so a parent who has an FHA loan can co-sign for an FHA loan for their child.
The discussion of multiple properties financed this way is addressed, the specific comments are:
“Transactions in which parents help their children buy their first home are permitted as long as the non-occupant co-borrower is not developing a portfolio of rental properties”
“The amount of the financial contribution by the non-occupant co-borrower and the number of other properties similarly owned must be looked at closely.”
So, if you’re co-signing parent has a bunch of other properties, then we may be in trouble. If the kids involved are close to qualifying in their own, especially if they all live in different areas, then we should be ok. Obviously, if the kids all buy houses right next to each other, then we’re in serious trouble.
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Considering that buying a home might be the biggest investments you’ll ever make, wouldn’t you like to be assured that this home is THE RIGHT ONE! Having a home inspection can set your mind at ease by knowing the “ins and outs” of a house, construction methods, operation and maintenance with longevity in mind. There are many home inspectors to chose from.
During a home inspection it is important to let the inspector do their job. While it sounds important and cool to follow the inspector around asking questions and learning, it can be better to save that until the end. You can request for additional time at the end of the inspection for questions/explanations if you would like to have more thorough information. The inspection will begin with the exterior and continue to the inside. The crawl space or basement will be towards the end. An inspector will check electrical, structural, insulation levels, plumbing, mechanics (furnace, a/c, hot water heater, etc), and many more items. They will give you a complete report which will show the age and condition of everything checked. The end of the report will show the minor repairs which normally consist of smaller items that are more informational to watch or fix if you desire. The major repairs are in need of a closer look as these could be expensive to repair. You will need to negotiate with the seller to either repair or give a concession to repair after closing. It is advisable to request that a licensed contractor repair the major items.
While purchasing a home can be over-whelming, finding a trustworthy inspector is one step to take that lessens the stress of this important event! Let us help you out!