6 Steps for Buyers Competing in a Tight Market
If you’re the newbie buyer on the block right now, it’s tough out there. How can you be more competitive when you’re up against tight inventory and higher prices? Plus, if you’re currently renting, you don’t have equity from a home sale to help fund your down payment.
These six ideas can help you (finally!) score a home of your own.
1. Get your down payment in order.
Saving is always good, but you don’t need to wait to save for 20 percent down. The good news is there are many low down payment loans and down payment assistance programs available to help you get in a home sooner.
You just need to get your home financing plan together so you can act quickly when the right home becomes available. Start by first seeing if you may qualify for one of the more than 2,300 homeownership programs available across the country. You can also ask your agent and lender about options in your community. And, don’t forget to check with your employer – some offer Employer Assisted Housing programs as an employee benefit. keep reading