First Time Home Buyers

STOP PAYING RENT NOW

At the Jensen team we specialize in and get a great deal of satisfaction out of assisting our customers buy their first home.   STOP PAYING RENT NOW and let us help you buy a home of your own! (With little or none of your own money!).

First things first...

All first time home buyers should get Pre-approved not just Pre-qualified!

Many first time home buyers shop for a home or condo and they get excited about a property that they would like to purchase but discover later that they may not be qualified.  A first time home buyer can avoid being disappointed by getting pre-approved not pre-qualified.  With pre-qualification, a lender tells you “how much you can qualify for based upon information you provide but they don’t commit to making you a loan.

On the other hand, a pre-approval involves filling out an application, submitting documentation, and obtaining a formal pre-approval letter.  The letter will give you greater negotiating power and let sellers know that you are a legitimate buyer.

How to buy a home with no money down!  Many first time home buyer programs offer 0-3% down payment options with approved credit.  Some zero down first home buyer programs allow you to include closing costs so that you can go to the closing table without writing a check!  Most 3% down programs allow the down payment to be in the form of a 100% gift.  Many people believe that you need very low income to qualify for these programs.

Not true! For example, there are programs which target specific areas and you can have unlimited income to qualify.

Don’t put off buying due to a lack of funds since there are many flexible loan programs to meet your financial situation.

How to buy a Home with damaged credit!  You should not pass up the opportunity to own because you feel that your credit is not good enough to qualify for a loan.  Today, most lenders understand that there are circumstances in people’s lives such as unemployment, medical, etc., which lead to slow pay to creditors and they offer programs for the credit challenged.  You should consult a mortgage professional before closing the door on home ownership.  They will pre-qualify you and run a credit report to see what credit issues you have. The reasons for the credit delinquencies should be explained to them.

Also, there are programs that allow for no credit history.  If you do not qualify for a loan now, you should work on improving your credit over the next 6 months to 1 year and then decide to buy.  

Ok, I’m ready to get Approved