Are you a Methow Valley First Time Home Buyer?

Now is a great time to think about buying. Dreaming of owning your first home? Tired of shoveling out rent for a home or apartment that doesn't feel like yours? Take heart, changing from renter to homeowner may be easier than you think. We're here to help.

Where do you start?

First of all, learn the financing basics. Get pre-approved and become a smart shopper.

When you buy your first home, making monthly payments probably won't be a problem. After all, you're already paying rent to your landlord each month. It's coming up with the lump sum needed for a down-payment that may seem impossible. Fortunately, there are options to make buying your first home a happy reality. Learn more about a pre-approval letter here.

Programs for first-time buyers.There are still alot of programs for first time buyers although lenders and the government have gotten a little more strict on the guidelines. Talk to your lender about possible options but make sure you understand all the documents including pre-payment penalties and interest rates.

Your lender. Your bank or credit union may help as well. Sellers want to see that buyers have enough money to safely purchase a their home without foreclosing on in a few months.

Private 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.

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.