Sunday, November 23, 2014

Save money buying a home at closing . I'm going to share what I just did .

Bought my first home ! All on my own . Yay !! The price was $99,500. For a raised ranch home built in 1965. I offered $95,00, and sellers pay $2,500 at closing . It was accepted. I saved $8,000 in the last 2 years and brought that for closing costs . After closing I ended up paying a little over $93,000 for the home ( because the sellers contributed towards closing costs), and had money left over for 2 mortgage payments . I also got a credit for first time home buyer in the state of VT for $2,600. Yay ! 
Negotiate the price and always try to get sellers to help out at closing . You can also ask $3,000 more of the purchase price and sellers pay all of closing . Banks should already know that . There are also local and government programs to help you with down payment & closing ( if you qualify). Hud is one of them . If you live in my area ( Saint Johnsbury , VT) rural edge is a non-profit organization that has classes & people to work with you in the housing dept. USDA helps families with costs too. It helps to do your research & go to a home owners class. Most banks require the class these days anyway. 
Write out your goal and start saving in a account from which you can't touch it . Like a cd savings . That's what I did . All on my own. With a car payment , rent , loan payment & heat + utilities . I got divorced 2 years ago and lost everything . The only thing I wanted back was my own home . Proud of where I am . Last year I was still going to court . Today I'm drama free , and feel at home again . It's a great feeling .

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