05 Sep 2024
By Mark Feder

What Single Moms Should Know About First-Time Homebuyer Grants

Home Buyer Tips
Owning a home as a single mom might seem challenging, but it's more achievable than you think. With the right resources, first-time homebuyer grants, and housing programs, you can turn the dream of homeownership into reality. Here’s what you need to know. Understanding First-Time Homebuyer Grants First-time homebuyer grants are designed to assist individuals with low to moderate incomes in purchasing a home. These grants can significantly reduce the financial burden of buying a house by covering part of the down payment or closing costs. Although not specifically labeled for single moms, many of these grants cater to single-income households,…
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23 Aug 2024
By Mark Feder

How to Transition from Renting to Homeownership

Home Buyer Tips
Transitioning from renting to homeownership is an exciting and significant milestone in anyone's life. This journey, while thrilling, can also be filled with questions and uncertainties.  I am here to guide you through this process, ensuring a smooth and successful transition working with your real estate agent. We will discuss the steps you need to take to move from being a renter to a proud homeowner. Assess Your Financial Readiness First and foremost, evaluate your financial situation. Owning a home involves more than just a monthly mortgage payment. You'll need to consider property taxes, homeowners insurance, maintenance costs, and potential homeowners…
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09 Aug 2024
By Mark Feder

Exploring Alternative Paths to Homeownership

Home Buyer Tips
Purchasing a home is a significant milestone, and traditional mortgages aren't the only route to achieving this dream. For many homebuyers, especially those who may face challenges with conventional financing, exploring alternative financing options can be a game-changer. We will discuss three creative financing options: rent-to-own, lease-purchase agreements, and shared equity arrangements. Rent-to-Own: Bridging the Gap to Homeownership First and foremost, let's discuss rent-to-own arrangements. This option allows potential buyers to rent a home to purchase it after a set period. During the rental phase, a portion of the monthly rent may go toward the future purchase price. This method…
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16 Jul 2024
By Mark Feder

Understanding Warrantable vs. Non-Warrantable When Purchasing a Condo

Home Buyer Tips
When you're shopping for a condo, there's a bit more on your plate than just the typical homebuying concerns like credit scores, interest rates, and loan programs. A crucial aspect is understanding the role of the Homeowners' Association (HOA) and whether the condo is warrantable or non-warrantable. This distinction can significantly impact your mortgage process and future as a condo owner. Warrantable Condos: What You Need to Know A condo is considered warrantable if it meets the standards set by Fannie Mae and Freddie Mac, the two main government-sponsored entities in the mortgage industry. These entities buy mortgages on the…
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