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    First Time Home Buyer Here

    My wife and I just had our offer accepted to buy a house! This will be our first house that either of us have bought. Just wondering if anyone could help on first time home buyer credits, or anything that we should take advantage of while we are eligible. Thanks in advance!



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    Re: First Time Home Buyer Here

    Quote Originally Posted by Cyville55 View Post
    My wife and I just had our offer accepted to buy a house! This will be our first house that either of us have bought. Just wondering if anyone could help on first time home buyer credits, or anything that we should take advantage of while we are eligible. Thanks in advance!
    If it's Cydkar's you better have him replace the roof and siding.



  3. #3
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    Re: First Time Home Buyer Here

    Quote Originally Posted by GrindingAway View Post
    If it's Cydkar's you better have him replace the roof and siding.
    My thoughts exactly.



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    Re: First Time Home Buyer Here

    If you live in Iowa make sure to file for the Homestead credit at your county office as it lowers the taxable value of your house.



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    Re: First Time Home Buyer Here

    There really isn't a whole lot out there. Mine biggest benefit is the interest rates today are a steal? If you ever plan to resell.... Really think carefully about any upgrades as only major upgrades add value, and rarely what you put into it. The next buyer won't care if the towel rack cost you $5 or $100.



  6. #6
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    Re:First Time Home Buyer Here

    Congrats! No advice because I haven't owned a home.



  7. #7
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    Re: First Time Home Buyer Here

    Replace carpet, refinish wood floors, paint before you move in. Take your time doing it all and enjoy your house. Don't get burnt out hanging photos, replacing light fixtures, and yard work, it'll always be there.



  8. #8
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    Re:First Time Home Buyer Here

    Buy something that you can afford with room to spare, and make sure that the major things (roof, foundation, siding, furnace) are in good shape. Your realtor should hook you up with all the financing info that you need.



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    Re: First Time Home Buyer Here

    Quote Originally Posted by GrindingAway View Post
    If it's Cydkar's you better have him replace the roof and siding.
    And check the wiring in his old mancave.


    CFH HMagic bball season next year.
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  10. #10
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    Re: First Time Home Buyer Here

    Not much that I know as far as 1st time buyer credits. The main thing is that you are put into the right loan product. (conventional vs. fha, etc...) Make sure it's a fixed rate. How much are you putting down?



  11. #11
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    Re: First Time Home Buyer Here

    I'm thinking of putting 7% down.



  12. #12
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    Re: First Time Home Buyer Here

    Quote Originally Posted by Cyville55 View Post
    I'm thinking of putting 7% down.
    If you have good credit the mortgage product that you should be doing is a conventional mortgage. (Not FHA) If you can swing 10% down try to do that as your PMI will be slightly lower.



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