Buyer Resources
Buying Your Home Buying a home is a major financial investment, which should not be considered lightly. Choosing the right professional to assist you from the beginning will ultimately save you time, money and frustration. Our team of Realtors offer you the expertise and knowledge you need when searching for a home. Preparation is key! Not only will you benefit from a comprehensive real estate search for the area, neighborhoods and price range you are interested, we often know of available homes which meet your needs. Our team shows hundreds of homes each year, so we know the neighborhoods and...
As lenders tighten mortgage guidelines for Indianapolis home buyers, minimum downpayment requirements are increasing. Several years ago, you could finance a home with nothing down. Today, most conventional mortgages require at least 10 percent. Anecdotally, guideline changes have led to an increase in the number of home buyers accepting cash gifts from family. Gifts are allowed in most cases but the problem is, if you don’t accept the gift in a “lender-friendly” way, the mortgage underwriter could reject it, and negate it. You can’t just deposit a cash gift into your bank account. You have to follow a series of steps...
In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of "move-up" buyers -- homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There's now just 7 weeks left to take advantage. To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010....
INDIANA HOUSING DOWN PAYMENT ASSISTANCE PROGRAM If you are a first time home buyer in Indianapolis, you should know your financing options. The Indiana Housing Program for first time home buyers who are creditworthy, but may not have the initial upfront costs for down payment and closing costs is a great option. I received this information from one of my lenders with the guidelines for the Indiana Housing Down Payment Assistance Program. The general guidelines are as follows: 1.First time buyers or someone who has not been entitled to real estate in the past 3 yrs. 2.Indiana Housing will provide...
