Perhaps the most common deterrent to first-time home buyers is the lack of a down payment. The home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.

Some states have a state-sponsored loan program which allows buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan.Parents can also give their children down payment help through a personal note or second trust deed. The terms could be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.

With so many alternatives, doesn't it make sense to call your Realtor for a free consultation? You may be closer to the end of the rent trap than you think.

Residential for Sale in Hilliard!
MSL Remarks "FINISHED BASEMENT with Family room and Separate Play room! Beautiful Stone and Stucco Ranch, Large 2.5 car garage, Lots of Kitchen cabinets and breakfast nook, Dining room with slider doors lead to Deck and Fenced Backyard! Natural Wood floors in Bedrooms and Living room, 2 Full Baths!!!"

Residential for Sale in Columbus!
MSL Remarks "Complete remodeling includes;roof,furnace,windows,drywall,paint, cabinets, counter-tops,carpeting,laminate wood flooring, new steel appliances and more! This 2 Bedroom Ranch home also features a one car attached garage,cement driveway,fenced backyard and a deck. Columbus taxes & Hilliard Schools!"

You have to have a reasonably good financial foundation before a lender will approve you for a mortgage loan. They look for a good credit rating, enough money in the bank to make the initial down payment and pay the closing costs, and a stable employment situation. People who have just qualified for a mortgage loan are usually in better-than-average financial shape. If you have just bought a new house, don't be surprised if you receive a lot of offers from retail stores and other credit card companies offering you pre-approved revolving credit.

Be careful about accepting too many of these offers! New home owners have often wiped out most of their savings to buy their home, and they need everything from linens to furniture to get settled into it. With all of the immediate credit available, it may be very tempting to just say "charge it." If you're not careful, you could be "up to your ears" in debt very quickly. It takes discipline to reach the goal of home ownership--and it takes that same kind of discipline to maintain financial health after you leave the closing table.

Price reduced 6/15. Finished LL! 2 car garage! 2 Full baths! 2 1/2 baths! Huge deck adjacent to Green Space! New carpet. New Ceramic floor entry. Pool and Clubhouse. Columbus taxes & Dublin schools. Premium location! MLS#2735828 Learn more...

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Home for Sale: 3775 Bradford Dr
Hilliard, Ohio
MLS#2837054

Home for Sale: 2722 Westbreeze Dr
Hilliard, Ohio
MLS#2815673

Home for Sale: 1026 1028 Franklin Ave
Columbus, Ohio
MLS#2832316

Home for Sale: 5225 Citrus Dr
Hilliard, Ohio
MLS#2830647

Home for Sale: 6145 Heritage Lakes Dr
Hilliard, Ohio
MLS#2816710

Home for Sale: 5099 Bigelow Dr
Hilliard, Ohio
MLS#2815570

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