Dreaming of owning your first Ruidoso home? 

Tired of paying for someone else's mortgage?  Ready to start paying down your own mortgage? BUT... Where do you start?

Start by getting pre-approved. Pre-approval is not the same as pre-qualification. Pre-approval is sitting down with a lender and going over your income, debts, and from there coming up with how much you can actually afford.

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.  You'll need to remember that you will have to include the cost of taxes, insurance, interest and any repairs that might be required as a result of owning a home.  Additionally, you will be required to have money available for a down payment.  Fortunately, there are options to make buying your home in the Ruidoso area a happy reality.

• Programs for first-time buyers.   There are several local or federal government programs that help first time buyers get into the housing market.  Ask us about these options.
  
  
• Mortgage brokers and lenders.   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.
  
  
• Seller carried contracts.   Looking for a seller to help you buy and finance your home?  Some sellers may be willing to carry the contract themselves. 

Need financial solutions?

Start talking with a lender now even if you may not be ready to buy a home. Home ownership is a big step and you want to start off on the right foot. A good lender will give you goals to set for yourself and help you achieve those in the future. Call today to get started on any Ruidoso, New Mexico real estate search.

 

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