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Why Did A Real Estate Agent Tell Me That I Needed $10,000 To Buy A Home?

By Amos Peverill ABR, REI Central Virginia Realty

 

Many folks think they need a lot of money for a down payment to buy a home. This is not true. The reason people think they need lots of money to buy a home is because that’s what many real estate agents think. However, what a real estate agent says is not necessarily accurate.

 

The Facts As I See Them: There are many fine government home loans geared solely towards helping people buy homes for little or no down payment. At any given time there may be 3 or 4 special home programs for which you may qualify.

 

More Than 60 Different Types Of Loans

The government administers most, but not all, low or no down payment home loans. There are more than 60 different types of home loans available. Most real estate agents rely on only the most commonly used home loans because government loans are difficult to learn and understand. It’s a full time job just to keep informed about the many loan programs offered by various lending institutions. One Zero Down Loan I know of, for those who earn a steady income and have good credit, is not administered by the government at all and it can be used to purchase homes as high as $300,000.00.

 

I Heard That If I Earn Too Much Money (Or Too Little) That I Don’t Qualify For These Special Government Home Loans

Many government home loans have income limits, but they’re all different. Some "limits" are very high. For example, the income limit for a no down payment loan I know of is $54,650. In other words, if you earn less than $54,650, you may qualify for this no down payment home loan! (Depending on various other factors like family size, credit, etc.) Other zero down loans that are not government funded have no income limits at all.

The Facts As I See Them: There are many different types of loans by many different government agencies. These loans come and go, each with different limits and requirements.

The Problem With Government Home Loans

The problem with government home loan programs is that they come and go in a fairly short "window period." For example: a 1% down payment home loan program may become available in April and be out of funds by the end of May. To obtain one of these loans, you have to know about them before the funds are gone.

 

The Facts As I See Them: The average real estate agent, busy with all phases of realty, often doesn't learn of many low or no down payment home loans until it's too late.

At The Home Hotline I make it my business to know about every single federal and state home loan program available to home buyers. Before a new home loan program begins, I learn everything that I can about the loan and then tell my preferred buyers.

 

How To Know About New Home Loan Programs Before Most Real Estate Agents

At any given time there are usually two or three no or low down payment programs available for home buyers. The loan program for which you may qualify depends on your employment, family size and income.

If you want to buy a home, the first thing I need to do is find the best loan program to fit your needs. I do this for you without cost and obligation.

 

I Specialize In Helping My Preferred Buyers Find Super-Low Down Payment Home Loans. My job is:

  1. To seek out and learn about every single low down payment government and private home loan program.

  2. To keep you fully informed of the homes loans for which you may qualify.

  3. To help find the perfect home for you.

  4. To negotiate the best price and terms on your behalf. I call this my Preferred Buyer Service.

 

What If There Are No Home Loans That Meet My Needs Right Now?

That’s O.K. You’ll know when a good loan program comes along because I’ll mail you my Home Loan Program Update every month. In fact, you’ll know about new home loan programs before most real estate agents.

 

How Much Does All This Service Cost?

Not a penny. If you find a home and buy it through us, the seller pays my commission. My Preferred Buyer Service costs you nothing - and I never try to "sell" you anything.

I believe that when you find the right home that you won’t need to be "sold". You’ll just know it. That’s when I help you get it for the best possible price and home loan terms.

 

My Preferred Buyer Service Contains All Of The Services Of A Full Service Real Estate Company....And Much More.

  1. You'll know about all home loans coming "on-line" from dozens of lenders weeks before the general public hears about them.

  2. You’ll have my computers searching the huge Realtor Multiple Listing Service data bases for the perfect home for you.

  3. You’ll be pre-approved by a home lender with the home loan plan that best fits your needs.

  4. You’ll be able to see any home listed by any real estate company or "for-sale-by-owner" at a time and schedule convenient to you.

 

I Also Help You Receive:

  • The best possible price and terms when you find the right home

  • The lowest down payment and closing costs

  • The lowest interest rate

  • The lowest monthly payment

  • The best home loan available

  • The most dependable inspections for structure, termites and mechanical systems

  • The very best title insurance and closing services

  • A fully paid Home Warranty

If this sounds like bragging, I don’t mean it that way. I simply have a certain standard of service that I have set for myself and my team to provide for our valuable clients. If we provide world class service, we know that it will reap dividends when our clients refer their family and friends to us. You will find that most Real Estate Professionals spend 90% of their time trying to generate new business from the general public, constantly starting each day by seeking clients. You’ve probably had some of them calling you. We believe in developing our business in a different manner. We devote time, energy and resources on you and your needs not only during the transaction, but afterwards as well. You are the most valuable asset to our business. It is essential that your needs are met and that this experience of buying or selling is educational and goes beyond your expectations

 

Call me, Amos Peverill, at 434-455-1191 I’ll explain more about how I help people find the best homes and loans. If you like what I have to say, we can get together and I’ll show you how I can do it for you.

Sincerely

Amos Peverill ABR, REI
Your Real Estate Consultant for Life

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