Brighter Finance - First Home Buyers
Marcus Roberts, Founder of Brighter Finance, has been featured in Forbes, Huffington Post Inc, and SBS with his knowledge of property. Marcus has almost 20 years of experience in the banking industry and enjoys helping clients secure property. Marcus is a proud member of the MFAA and PIPA, and is passionate about helping clients purchase their own homes.
Marcus Roberts, Brighter Finance's director, has over 15 years of experience in banking and financial services. He is passionate about helping clients make smart financial decisions so they can buy the property of their dreams. He is also a podcaster and speaker and works with his clients to help them understand the various nuances of financial planning.
As a first-home buyer, you may be unsure how to get the money to buy your new home. However, you can start by contacting a specialist broker in your area. Most brokers will be happy to help.
In this interview, Brighter Finance's Dan Green, a seasoned mortgage lender and software developer, shares his story and advice for first-time homebuyers. Green was once a number one loan officer at a bank, but now runs a start-up geared toward homebuyers. His company uses consumer technology to make the mortgage approval process as easy as possible. He also shares his insights on running a company while learning on the fly.
First-time buyers are fueling the housing market. Last year, first-time buyers increased their share and volume, and they now make up 56.7% of all owner-occupied mortgages. While the housing market in the midwest is expected to remain steady and slow, some areas nationwide will continue to see record growth.
The Fannie Mae mortgage program is changing to make the home-buying process easier and more affordable for more first-time buyers. The new program is called HomeReady and replaces the MyCommunityMortgage program. The HomeReady program is designed for first-time home buyers and repeat buyers who have a low to moderate-income and need a mortgage with a low down payment. While Fannie Mae will accept less than perfect credit, there are guidelines that must be followed to qualify for the program. First-time home buyers can purchase a home with as little as three percent down and 80 percent financing.
The program is designed to make homebuying easier for first-time buyers by offering down payment assistance and closing cost assistance. To qualify, first-time buyers must complete a homebuyer education course online. If they are eligible, they can receive up to three percent in closing costs assistance from Fannie Mae. Another important requirement of this program is that the buyer must obtain pre-approval for a mortgage before submitting an offer.
National Homebuyers Fund
Brighter Finance - First Home Buyers offers a tailored approach to helping clients buy a home. Their goal is to help clients acquire the confidence and skills they need to make informed decisions. They work closely with clients to educate them about the loan application process and provide ongoing proactive service. They offer a range of services, including a free mortgage comparison service.
The first step in buying a home is determining your affordability. As first-time home buyers, you should ensure that you have at least three to six months' worth of living expenses saved up. This will help you cope with unexpected expenses that may arise during the home buying process. Another important consideration is your credit score. This should be at least as high as the limit required by your lender. You also need to consider the location that offers a mix of convenience and affordability. You can use a calculator to estimate your affordability to determine how much you can afford to pay in the area you are considering.
First-time home buyers can use HUD's first-time home buyer program to purchase an affordable home. This program allows you to finance up to 3% of the purchase price, but there are a few things to keep in mind before applying. For one, you'll need to get pre-approved for your loan. This is especially important if you're buying a home with HUD assistance. HUD will pay closing costs up to 3% of the purchase price.
The government's first-time home buyer programs are often federal in nature, but you can also find local and state-level programs. A housing authority in your state can provide more information on smaller programs. And remember that many programs are multi-use; you can take advantage of several programs at once.