Tanya Stiegemeier, Designated Broker
Tombstone Office: 520-457-3322
Pearce-Sunsites Office: 520-826-3322

Dreaming of owning your first home?  Tired of shovelling 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.

Programs for first-time buyers.  

The $8,000 first-time homebuyer tax credit is extended


 

New $6,500 tax credit for current homeowners purchasing a primary residence

To learn more about obtaining the tax credit, visit the Frequently Asked Questions and Tax Credit Changes Comparison Chart.

To obtain forms to claim your tax credit, see this information from the IRS.

For further information about eligibility requirements and limitations, visit www.irs.gov or www.FederalHousingTaxCredit.com.

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.

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.

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