#first time homeowners

[reunitedinterlude]

homeowning homosexuals (x)

[froody]

Should I start posting suspiciously cheap real estate because I see people like “$40k? For a house?” in my notes and I want to show them the evils of $40k houses in rural America.

[rarediamondbliss]

Been awhile … but sis knocking out some goals.

[barstoolblues]

thank god for my parents crazy ass 25 yr old tmobile plan cuz i just got an $830 discount on my new phone

[housewifebuck]

Who up and wanna take me out back and shoot me rn

[onefail-at-atime]

Everyone,

It's time to WAKE UP and start asking those in your community how they're going to work to stop build-to-rent communities from becoming a mainstream housing option. This isn’t just an American housing issue either. It's become a problem in Canada, the UK, Ireland, and even Australia. Home developers are no longer looking to invest in building for sale home communities. No, corporations are investigating in housing properties to build with the intent to rent. Forever.

These developments aren't new homes for sale. They're not even rent to own communities. No, they're brand new houses/condos that are being built for the sole purpose of helping corporations make a profit now that commercial real estate has become such an unpredictable market.

Americans are already familiar with the apartment living build-to-rent model that has consumed so much of the housing market that it's just natural. For my European friends, they're shocked to hear just how many apartment buildings are built for the sole purpose of being a permanent rental building. Month to month rent that has already increased nearly 50% in just 5 years.

Don't sit on this issue. Don't buy into the grand scheme that economists put out there that this will help the housing crisis because it won't. All it will do is cripple a consumer's buying power more than it already has been since the pandemic.

Housing 👏 is 👏 not👏 for👏 corporate 👏 gain.

[phd-in-prog]

ah fuck I need to submit this paper by May 30 and complete our fixer-upper renovations by June 3 and defend my proposal by August 30 and defend my thesis by December 11 and not die of stress

[sidewalk-scrawls]

Our kitchen sink is fixed and the dishwasher that's been on our back steps for 3 weeks is gone! Now to deal with the black mold, rotten kitchen cabinet, and (hopefully) a new dishwasher

[exploring-in-space]

Not me telling my mom I would come down to visit her for Mother's day and then realizing that's the same weekend Tears of the Kingdom comes out.

...and then telling my mom I can't actually come down 🫣

[stonerzelda]

i think my life would improve so greatly if i could justtt and i mean Just move out lol

[aheartofgold]

.

[skillzyo]

Hm. debating pulling money out of my 401k so I can make a down payment on a better place to live.

[beck-a-leck]

Me watching my brother deal with the consequences (backed-up and flooded basement drain, again) of his own actions (couldn't be bothered to go rent the drain auger a month ago the last time this happened and do the necessary annual maintenance of his own damn house)

[westhomeloans]

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[ryanharsche]

How to Choose the Right Loan as a New Homeowner

Understanding Loan Types

The first step to choosing the right loan is knowing the types available to first-time homeowners. Each option comes with its own set of pros and cons that can impact your home-buying experience. Here are the most common first-time homeowner loan options you’ll encounter:

Conventional Loans

Conventional loans are the most popular choice for homeowners. These loans aren’t backed by the government. While they tend to have more stringent credit and down payment requirements, they offer flexibility in loan terms and conditions.

FHA Loans

Federal Housing Administration (FHA) loans are designed to help people with lower credit scores and smaller down payments enter the housing market. An FHA loan typically requires a down payment as low as 3.5%, which makes homeownership more accessible if saving up a large lump sum isn’t realistic.

VA Loans

If you’re a military veteran or an active-duty service member, VA loans are worth exploring. They require no down payment and no private mortgage insurance, which means significant savings upfront and over time. You need to meet the specific eligibility criteria, and the home you’re buying must be your primary residence.

USDA Loans

The loans don’t require a down payment and come with low interest rates. However, there are income limits and location restrictions that apply, so it’s important to check if you qualify based on where you plan to live.

Assessing Your Financial Situation

Before you jump into a loan, it’s important to get a good understanding of your own financial situation. Take a look at your credit score, savings, and monthly budget. Lenders will weigh these factors heavily in determining what loan options you qualify for and what terms you’ll receive.

Credit score: A higher credit score will generally get you better interest rates, especially for conventional loans.

Down payment: Know how much you can comfortably save up without stretching yourself too thin.

Debt-to-income ratio: Lenders will assess your current debts versus your income to see how much house you can afford.

Hidden Costs to Keep in Mind

Don’t forget about the extra costs that come with homeownership. Beyond your monthly mortgage payment, you’ll need to budget for property taxes, homeowners insurance, and possibly private mortgage insurance. Closing costs are also something to factor into your overall home-buying budget.

Getting Ready to Sign on the Dotted Line

After exploring the various loans for first time homeowners, you’ll feel more equipped to select the best loan for your needs. By weighing the costs beyond the monthly mortgage, you’re setting yourself up for a smart investment that fits your future goals.

[exerlin]

Kamala should be running as a republican with all her positions. Fuck you and your entire party for pushing this country further right year after year! The red and blue teams are allies, and we are both their enemies and their slaves. Voting isn't going to help us at this point