Are you looking to buy a home in Rhode Island? Are you a first time home buyer without any savings?
It used to be that you could go to RIHMFC (Rhode Island Home Mortgage and Finance Company) and if you had decent credit, be able to borrow 100% of your mortgage and get help with closing costs. In the past couple of weeks, RIHMFC's criteria has changed. This is due to all the mortgage mess we have been hearing about in the news and all the foreclosures going down.
There are two schools of thought on buying a home with a 100% mortgage. One is that people should be "saving" for their own down payment and their own closing costs. The other is that many, many people will not be able to own their own home without this help.
I am one of those people who has an obsession for putting people into homes of their own. This is the reason I went into Real Estate! Nothing makes me happier than searching for a home, uniting someone with a good Mortgage broker and a great loan and then seeing them in their own home. In my opinion there is a psycological feeling of pride when someone actually buys a house. It changes their whole perspective on things. It is called "nesting". Both men and women have the nesting instinct.
The point of this post is simply to remind people that even though there are many changes going on in the mortgage industry, there are still many programs out there to get you into your first home. Don't give up! Call a Realtor, preferably me:) and I will advise you on what you need to do.
Most importantly in these turbulent Real Estate days, you need to have good credit, so make sure you pay your payments on time and try to clean up any charge cards or loans you may have.
If you are looking for a home in Warwick, Cranston, or East Greenwich, and need some help, I am here for you. Happy Hunting!
Incredible opportunity for a prequalified first time homebuyer! This is a bank owned home which needs very little. (mostly paint and cleaning). It has two beds and there are three finished rooms in the basement that could be used as bedrooms. There is a fenced yard and it is close to the Marinas in Warwick in a wonderful looking neighborhood! This house must be sold AS IS, but you will be amazed at this much house for the price which is at an affordable $178900. This will not last. Call me now for a showing. 401-301-6887
Private lot next to Pawtuxet River located at end of cul de sac. Newer windows, vinyl siding, roof and cement driveway.
Interior needs much work. Carpets, walls, floors, etc and basement also needs work.
This is a bank owned home selling AS IS with all offers to be accompanied by a prequalification letter.
Priced accordingly at $80,900! Ride by and email or call me! Home is located in Warwick, Rhode Island at 3 Byron Boulevard.
Have you ever wondered what are some of the best places to live in Rhode Island?
Choosing the right city or town is very important. You may have small children and need to know about the schools. You may be concerned about paying higher/or lower taxes.
You may want to know if most of the people there are in your own age group and if their incomes are compatible with your own.
There are many ways to find out if you are choosing the right city for you! With the Internet we can read blogs, search out homes from foreclosures to waterfront homes. We can look through virtual tours and send an email right from our desk.
One of the sites I have found to be helpful for data in choosing your home in Rhode Island, is located on Rhode Island Monthy. This is a magazine dedicated solely to Rhode Island and is well worth your while to check it out.
Here is the link to the data that Rhode Island Monthly has compiled regarding places to live in Rhode Island. If you are considering a move, then check it out.
