Living in a rented apartment since long. Ever thought of
disadvantages of staying as a tenant. Besides losing your freedom to whims and fancy of landlord, your hard earned money is going down drains. Of course, to nourish landlord’s finances; such that he is planning to buy a new home.Ever thought how much have you paid in total. If accumulated, rent would have been enough to buy you a house. If idea dawns upon you, then continue reading for more information on first time home buyers mortgage which can be a key to your first home.
A first time buyer mortgage can be a perfect option for financing your first home. It is specially built for first timers. The first time buyers are generally new to their careers. They did not have time to build up savings to help them pay for their home.
However, some amount of deposit will be required for getting mortgage. Some lenders are ready to finance whole of house by paying 100% on mortgage, if first time buyer is not able to pay deposit. Nevertheless, they will charge more for their services.
First time buyers are a hot favourite with mortgage providers. This is because they know that this is their first deal and if treated well customer would come again and many more times after that.
First time buyers do not require any special treatment. They require a mortgage which allows them to purchase their first house without much of difficulties- both immediate and future. But they seldom get treatment they desire.
The first problem they face is lack of knowledge about rules and regulations related to buying of house. Very few people do actually peek into legal documents till it is their own home, or if they deal in these. So it is inconsequential to think that they must have known formalities.
