No Place Like My House

A Word 

It is so important to understand exactly where you stand financially before you start looking at property.  Being an educated consumer puts you in the driver's seat.  The more you  know about homebuying, which questions to ask and what the costs will be to you, the more control you will have during the entire transaction.

Look for websites that cater to first time buyers if this is the category you fall under.  In Connecticut visit the Connecticut Housing Finance Authority site at:  www.chfa.org.  Here you will learn about the mortgage process, what the current interest rate is through CHFA, what products are available through CHFA and so much more.

These sites have been created focusing on the specific needs of first time buyers. For first time homebuyers in Rhode Island, go to www.rhodeislandhousing.org.  

Government loan programs, FHA and VA, offer housing information to prospective buyers.  At www.va.gov, active and former military personnel will find valuable resources available to them.  Under 'Veteran Services' just click on Home Loans for access to a huge amount of information on the subject.

If you want information on FHA loans just go to www.HUD.gov.  Scroll down a little and you will be able to view all the choices available from Buy a Home to Avoid Foreclosure to Apply for a Job.

Another valuable source for loan information is your local Mortgage Banker. Like myself, Mortgage Bankers can offer you one on one consultation to answer any questions you may have on the homebuying process.  An important part of our job is to guide you through the process so you understand each step of the transaction.  

Initially we offer help in qualifying for a property.  Before you even want to meet with a real estate professional to view houses, you need to know how much house you can afford and how much money will be required for the purchase transaction.  Armed with these facts, you will know which houses you can view and whether you wish to ask the seller to contribute towards your closing costs and prepaid items as part of your purchase offer.

At this time, should you have credit issues, a professional Mortgage Banker can offer guidance to help you clear up the credit issues and improve your credit scores so you can become a homeowner.

Call a Mortgage Banker today even if you're not entirely certain you want to purchase.  It cost nothing to sit and ask questions to get an understanding of the process and what you may qualify for.  In addition, you will build a relationship with someone who can guide you as you investigate the possibilities of homeownership.  The comfort level you develop will only make the purchase transaction easier to deal with when you are ready to buy.

 Warm Regards,

Ava

                  Avoid Foreclosure 

For information on Foreclosure Prevention clinics contact the Connecticut Fair Housing Center at 1-888-247-4401.  You can also visit www.ct.gov.dob.  

The state of Connecticut offers a Foreclosure Hotline.  This service is available Monday thru Friday from 8AM until 5PM at: 1-877-472-8313.

Connecticut Finance Housing Authority - CHFA - offers foreclosure prevention by refinancing your current mortgage. For further information call 1-860-571-3500 or please call 1-877-571-CHFA.

For help with foreclosure prevention in Rhode Island visit the Department of Business Regulation: www.dbr.state.ri.us/divisions/banking.

Just scroll down a little and under ' Banking Regulation Information' click on Rhode Island Housing Help Center.