Dreaming of owning your first home? Tired of shoveling out rent for a home or apartment that doesn't feel like yours? Take heart, changing from renter to homeowner may be easier than you think. I'm here to help.
Where do you start?
First of all, learn the financing basics. Get pre-approved and become a smart shopper.
When you buy your first home, making monthly payments probably won't be a problem. After all, you're already paying rent to your landlord each month. It's coming up with the lump sum needed for a down-payment that may seem impossible. Fortunately, there are options to make buying your first home a happy reality.
Programs for first-time buyers. There are several local or federal government programs that help first time buyers get into the housing market. Ask me about these options.
Your lender. Your bank or credit union may help as well. Are you debt free and own something free and clear, like a car? Your lender may lend you the down-payment by securing it against this asset.
Private contracts. Look for a seller to help you buy and finance your home. Some sellers are willing to carry the contract themselves and will waive the down payment. You may only have to pay the monthly mortgage installments.
Check out the New Mexico Mortgage Finance Authority
New Mexico Mortgage Finance Authority
When you are buying a home particularly for the first time, you want to make sure you are making the right decisions to help you create a long term asset that will help you achieve your ling term financial goals or just have a home that you can live in for generations.
The New Mexico Mortgage Finance Authority is a great source of information and help for low to moderate income New Mexicans. They can help your Las Cruces Home Dream come true.
Where to start
Go the the following link to get a wealth of home buyer information. You can see if you qualify for one of their programs to help you finance your home.
1. Do You qualify?
What Mortgage Programs are Available?
The following link will list their available programs. You can see which one works best for you. If you or someone in the household is a Teacher, Healthcare Worker, safety worker of active member of the armed forces, you may qualify for eh HERO loan.
2. Las Cruces Luxury Homes Programs Available
If you still have questions you can always call them at (505) 843-6881.