Results 1 to 12 of 12
  1. #1
    Prospect
    Points: 5,416, Level: 21
    Level completed: 74%, Points required for next Level: 134
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Oct 2009
    Posts
    71
    Points
    5,416
    Level
    21
    Thumbs Up
    Received: 0
    Given: 0

    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!



  2. #2
    Pro
    Points: 74,314, Level: 84
    Level completed: 69%, Points required for next Level: 536
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    GrindingAway's Avatar
    Join Date
    Nov 2006
    Posts
    3,021
    Points
    74,314
    Level
    84
    Thumbs Up
    Received: 218
    Given: 12

    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
    Speechless
    Points: 432,915, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 11.0%
    Achievements:
    SocialVeteran50000 Experience Points
    alarson's Avatar
    Join Date
    Mar 2006
    Location
    West Des Moines, IA
    Posts
    22,901
    Points
    432,915
    Level
    100
    Thumbs Up
    Received: 1,757
    Given: 1,039

    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.



  4. #4
    Pro
    Points: 31,068, Level: 54
    Level completed: 20%, Points required for next Level: 882
    Overall activity: 0%
    Achievements:
    Created Album picturesVeteran25000 Experience Points
    CycloneDaddy's Avatar
    Join Date
    Sep 2006
    Location
    Johnston
    Posts
    2,159
    Points
    31,068
    Level
    54
    Thumbs Up
    Received: 167
    Given: 17

    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.



  5. #5
    All-Star
    Points: 44,835, Level: 65
    Level completed: 45%, Points required for next Level: 715
    Overall activity: 0%
    Achievements:
    Veteran25000 Experience Points
    Let's Go State's Avatar
    Join Date
    Nov 2007
    Location
    Far Western Iowa
    Posts
    1,846
    Points
    44,835
    Level
    65
    Thumbs Up
    Received: 1
    Given: 1

    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
    Speechless
    Points: 246,663, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 36.0%
    Achievements:
    50000 Experience PointsOverdriveVeteran
    Rabbuk's Avatar
    Join Date
    Mar 2011
    Posts
    17,883
    Points
    246,663
    Level
    100
    Thumbs Up
    Received: 2,543
    Given: 136

    Re:First Time Home Buyer Here

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



  7. #7
    Addict
    Points: 114,188, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 21.0%
    Achievements:
    SocialVeteran50000 Experience Points
    JP4CY's Avatar
    Join Date
    Dec 2008
    Location
    Sommerset
    Posts
    7,508
    Points
    114,188
    Level
    100
    Thumbs Up
    Received: 1,229
    Given: 467

    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
    Speechless
    Points: 787,568, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 31.0%
    Achievements:
    SocialVeteranCreated Album pictures50000 Experience PointsOverdrive
    Cyclonepride's Avatar
    Join Date
    Apr 2006
    Location
    A pineapple under the sea
    Posts
    53,918
    Points
    787,568
    Level
    100
    Thumbs Up
    Received: 5,556
    Given: 2,486

    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.



  9. #9
    Speechless
    Points: 435,856, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 63.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    65,309
    Points
    435,856
    Level
    100
    Thumbs Up
    Received: 1,529
    Given: 1,166

    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.


    Let Prohm's Posse Ride: Georges, Georgios, 3sus, Hallice, Deonte, Dustin, Abdel, Monte, Matt, and McKaT.

  10. #10
    Legend
    Points: 132,053, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 25.0%
    Achievements:
    50000 Experience PointsVeteran
    Cyclonesince78's Avatar
    Join Date
    Mar 2012
    Posts
    10,876
    Points
    132,053
    Level
    100
    Thumbs Up
    Received: 4,211
    Given: 3,889

    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
    Prospect
    Points: 5,416, Level: 21
    Level completed: 74%, Points required for next Level: 134
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Oct 2009
    Posts
    71
    Points
    5,416
    Level
    21
    Thumbs Up
    Received: 0
    Given: 0

    Re: First Time Home Buyer Here

    I'm thinking of putting 7% down.



  12. #12
    Legend
    Points: 132,053, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 25.0%
    Achievements:
    50000 Experience PointsVeteran
    Cyclonesince78's Avatar
    Join Date
    Mar 2012
    Posts
    10,876
    Points
    132,053
    Level
    100
    Thumbs Up
    Received: 4,211
    Given: 3,889

    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.



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: Cyclones.TV
  • FOOTBALL: Iowa State vs. UNI
  • September 5, 2015
  • 07:00 PM