First-Time Buyers

 Are you a First Time Chelan Real Estate buyer?

Dreaming of owning your first home in the Lake Chelan real estate area? Tired of paying for someone else's mortgage? Don't fear, changing from renter to homeowner may be easier than you think.

Where do you start in this market?

First of all, learn the financing basics. Get pre-approved and become a smart shopper. This is different than a pre-qualification. Get a letter from the lender so you have it in hand when you start your search.

Programs for first-time buyers. There are several local or federal government programs that help first time buyers get into the housing market. Home Buying Seminars that Home Ownership U provides are free home buyers seminars throughout the greater Seattle area including Lake Chelan real estate classes and seminars for first time home ownership and those who want to know more about the real estate field.

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. Lenders can also give you a break down of goals to achieve to be able to purchase your Lake Chelan real estate.

Seller carried 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. The drawback is that sometimes the interest rate may be higher.

Need financial solutions?

Credit or tax problems. Do you have problems with your credit rating or owe money in taxes? Buying your first home is still a possibility. Check with your lending institution about options, such as paying a higher down- payment.

If necessary, contact a financial advisor or tax resolution service.

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