And certainly being financially able is essential or you are wasting your time.

One question to ask yourself is if you are REALLY ready to buy or are you just looking right now? While you may be thinking you are ready, your behavior may suggest the time is not quite right.

The questions below will help you determine if you are truly prepared to buy…emotionally, psychologically and financially.

• Will you be paying cash or have you arranged for financing?
• Do you have a house or condo to sell?
• Do you have a lease you can break or are you tick for an extended period of time?
• If you went out today and found your dream home, what would you do?
• Do you have a good idea of what you are looking for and what you are willing to trade off?
• Why do you want to buy a new house? Do you have some good reasons (space, financial psychological) for wanting to buy?
• You know yourself better than anyone. Can you HONESTLY say that you are emotionally, psychologically and financially ready to go? This is a tough one for the first time buyer, and an “unsure answer” or “I’m scared” is perfectly alright since it’s a bit step and being nervous about it is to be expected.
• How well informed are you about the market in terms of inventory, pricing, marketing time, interest rates, etc.? It’s hard to get started on the process if you know nothing about it or the local market.

The reality is that if you are unsure it’s time to talk. Buying a home in this financial market can be an incredible opportunity, but buying a home in Idaho when you are unprepared can be catastrophic. Note, I am not here to scare you, but I am here to help you understand that your first Idaho home should be an investment in your future and laid on a foundation of sound economic thinking and resolute commitment.

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I looked through Idaho condos to see if any matched those prices and was surprised to find fewer than the number I can count on one hand priced under $30,000. But once I bumped the price from $31,000 to $50,000, more than 5 dozen popped up. Good luck trying to buy one, though. Lots of agents, especially in Idaho, don’t like to work in that price range because the net commission is too low for the effort expended.

Moreover, if you’re thinking you can pick up a cheap condo and rent it out, you better check with the homeowner association to find out if rentals are allowed in the complex or if the HOA determines the rental percentage allowed. Check the financial health of the HOA. Some distressed condo complexes are saturated with foreclosures and short sales, and can’t collect enough money in dues to cover obligations.

While the Idaho market continues to be on unsettled ground there are some great condos to be had. That being said, be cautious and know that these are often the slowest to bounce back from a recessive market. Your home loan can be done through my office and I look forward to helping you. I’ll be more than a facilitator of paperwork however. My goal is to insure you get the right home loan to insure your new Idaho home or condo is a perfect fit for you for the long term.

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The elevation of Boise is 2,842 feet above sea level and is considered “high desert” with temperatures ranging from an average range of 22 – 36 degrees in January to 58 to 90 degrees in July. The Boise valley receives an average of 12 inches of precipitation per year. Boise’s climate has four definite seasons but rarely receives snow. However, snow in the mountains surrounding the valley provide numerous opportunities for outdoor activities. There isn’t a better place to be a first time home buyer.

The Boise School District offers outstanding schools which serve over 25,000 students and employs 3,900 people including 1,700 certified staff. Their purpose statement – Educating Today for a Better Tomorrow – speaks to the district’s commitment to provide a quality education to all of its students.

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Real estate taxes for Idaho first time home buyers are paid twice a year to Ada County tax assessor and are collected in your monthly Boise mortgage payment (if you have impounds) and held in an escrow account until the tax bill comes due. 

How can I lower my Ada County Property Taxes?

Right now many properties in Ada county are accessed 5-10% above appraised values .  If you feel your property taxes are too high, you can contact Ada County Assessor, in Boise, and petition to have your property reassessed.  If you have purchased or refinanced recently, you may be able to use that appraisal.  If not, a new one will cost $400-$500.  Give me a call and I will be glad to assist.

For Idaho first Time buyers in 2009, this will not be a problem.  The properties that are being purchase now are mostly well under the assessed values.  When a home is purchased the taxes are based on the new-lower value which in turn will drop the taxes. 

If someone purchases a rental property, there will not be a home owners exemption on that property which means the taxes will be quite a bit higher until the exemption is filed.  After that, the taxes will be reduced in the following tax year. 

Another issue that Boise home buyers need to be aware of, is that if they buy a rental and the taxes are higher, that also means that it could affect their qualifying ratios.  It could be a deal breaker.  One way to get around this is to collect extra taxes at closing which will allow the Idaho home buyer to qualify at the lower tax rate.  A Realtor should be all over this and avoid a potential disaster.   

A few more posts about Boise home loans: 

Guild Mortgage Idaho– Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

To learn more about Guild Mortgage and myself please visit my other site for a Boise mortgage

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IF YOUR IDAHO FIRST  TIME HOME BUYERS LOANS CAN’T BE CLOSED ON TIME OR CLOSED AT ALL, THE RATE MEANS NOTHING!

Guild Mortgage is located near the intersection of Chinden and Cloverdale here in Boise.  All Idaho first time home buyer loans are processed, underwritten, and funded all in our Boise Idaho location.  If necessary, a first time home buyer can contact our underwriter and even meet face-to-face.

 This is a HUGE ADVANTAGE for Idaho first time home buyers.  You will know exactly where your Boise loan is in the process at all times…never leaving you in the dark. 

The “In House Process”  is the key to ensuring a Boise Idaho First Time Home Buyer’s file will be closing on time every time. 

 Many other mortgage Boise lenders have their files underwritten in a centralized processing center (some large city out of Idaho). Out-of-state processing will take weeks instead of days.   An Idaho First time home buyer looses all control.

Guild Mortgage offers all types of Idaho First Time buyer home loans. There are basically 2 types of Boise home loans available to the consumer: Government and conventional. Most of the time a Idaho First Time Home Buyer will have a FHA (Federal Housing Administration) loan.  FHA mortage loan allows buyers to put down the minimum amount, 3.5%, which can be “Gifted” by a family member.  All of the mortgage Boise loan closing costs can be paid by the seller (6% of the purchase price). 

The required 3.5% can also be financed with a small second mortgage loan (the 1st mortgage is the FHA loan) through Idaho Housing Authority.

BOISE IDAHO FIRST TIME HOME BUYERS-TAKE CONTROL OF YOUR BOISE HOME LOAN PROCESS!

Other posts like this one-

• The “New” Home Buyer Tax credit For Boise Idaho
• Boise Idaho First Time Home Buyers Mortgage Loan Application
• No HVCC for Boise Idaho First Time Home Buyers
• Boise First Time Home Buyers Leverage Tax Credit
• Boise Idaho Home Buyers Free Credit Report
• Private Mortgage Insurance Really Stinks!

To learn more about Guild Mortgage Home Loans and myself please visit my other site.

Guild Mortgage –  Boise Mortgage Loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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Idaho Housing Authority

We Don’t Need No Stinkin Home Buyer Tax Credit!

When the first time home buyer tax credit expired, many were speculating that home buyers would stop buying or at least slow down considerably.   Not if Idaho Housing Authority has their way.

IHA has just announced yet another first time home buyer program.  Here are a few bullet points.

• As little as $1,000 borrower investment required

• Conventional loan with no Mortgage insurance required

• No sales price limit

• First time home buyer requirements apply

• Borrower income limits apply

• Exclusive to IHFA

• Up to 100% loan to value for homebuyers with credit scores of 680 or higher

• Up to 97% loan to value for homebuyers with credit scores of 660 or higher

Link to Idaho Housing Authority

Please give me a call about this new program. I will be glad to help you out.  Thank you!

Here are a few more post similar to this one

Check today’s rates for Boise First Time Home Buyers

Craig Ballhagen-Guild Mortgage,-Boise-208-713-3309-

To learn more about Guild Mortgage and myself please visit my other site.

Please visit my fan page Boise Home Loans on Facebook

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In the boom years I primarily worked with buyers, that was where the demand was. As we started to see housing bust around the country and then into our Valley in force in ’07 helping folks avoid foreclosure became a real focal point. I recognized the need that was coming and started to gear up for short sales; I went straight to the bank and got their playbook – seriously… Quality of service has always been my focus. While I overhear conversations boasting of gross sales, etc. I make it my goal to have the highest close ratios for my sellers and the best possible service to my clients.

Given that short sales are still here 3 years after the first big push of the bust and that they are here to stay for a while longer the agent you work with must be proficient in them if you want a legitimate shot at selling so you can avoid foreclosure or if you are buying to take advantage of the correcting values of real estate. Better than proficient, I would want to be working with an broker that had the banks playbook. Let me know how I can help you….

 Please Download my Short Sale Buyer Guide

John’s  Boise Idaho Short Sales link to Facebook

John Boles

Associate Broker, GRI

208.830.6185

208.562.1582 (fax)

Jon Gosche Real Estate

www.BoiseRealtyStore.com        www.BolesBoiseRealEstate.com  Boise Realty Store Blog

johnboles@boiserealtystore.com

——————————————————————————————————————

Craig Ballhagen-Guild Mortgage,-Boise-208-713-3309-

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Most First Time Buyer loans payments are made up of 4 numbers that make up the total payment.

  1. Principal & Interest is calculated by using the mortgage calculator.  Enter you estimated loan amount and rate.

Check today’s rates for a Boise mortgage for Idaho first time home buyers.

 2. Homeowners Insurance  usually runs between $20 and $40 per month, depending on the cover that they chose to cover their Idaho mortgage. 

 3.  Real Estate Taxes are usually 1.25% of the purchase price. For example with a $100,000 purchase price, the taxes would be approximately $1,250 per year which would be $104. per month.  

  4. Mortgage insurance  on a $100,000 loan would be approximately $45.00 per month.  This only applies if a home buyer puts less then 20%.  The up front Good Faith Estimate will provide much more detail and complete breakdown of all of the fees and total Idaho mortgage payment.

Please take the time to understand how a Boise mortgage payment is put together.  When you break it all down, it is much easier to know where your next Idaho mortgage payment will be.

 Here are a few other posts you may find informative

Craig Ballhagen-Guild Mortgage,-Boise Home loans-208-713-3309-

To learn more about Guild Mortgage and myself please visit my other site.

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The elevation of Boise is 2,842 feet above sea level and is considered “high desert” with temperatures ranging from an average range of 22 – 36 degrees in January to 58 to 90 degrees in July. The Boise valley receives an average of 12 inches of precipitation per year. Boise’s climate has four definite seasons but rarely receives snow. However, snow in the mountains surrounding the valley provide numerous opportunities for outdoor activities. There isn’t a better place to be a first timehome buyer.

The Boise School District offers outstanding schools which serve over 25,000 students and employs 3,900 people including 1,700 certified staff. Their purpose statement – Educating Today for a Better Tomorrow – speaks to the district’s commitment to provide a quality education to all of its students.

Boise offers outdoor enthusiasts many opportunities. For bikers, hikers, and skaters, the Boise greenbelt, miles of paved pathways along the river’s edge, provides glimpses of the beautiful scenery and wildlife in the area. In addition, miles of paths in the foothills north of Boise are another avenue for bikers and hikers.

“Floating the River” is another activity for summer-time enjoyment. Barber Park, east of Boise, is the place where those seeking to escape the summer heat can launch on the Boise River for an afternoon of water refreshment. Bring your own raft or inner-tube or rent them there. Nothing better than the cool of the river on a hot summer day!

• Boise Area School Districts
• Local Entertainment
• Outdoor Activities
• Boise Restaurants
• Boise Moving and Storage Companies
• Local Utilities
• Boise Social Networking Businesses
• Boise Networking Groups

Check today’s rates for Boise First Time Home Buyers

Craig Ballhagen-Guild Mortgage,-Boise-208-713-3309-

To learn more about Guild Mortgage and myself please visit my other site.

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 The accuracy of this document will set the pace for the entire Boise home loan approval process.   The data that is provided, is what the Boise loan officer will be  using for automated Idaho loan approval, ordering credit,etc.  If the data cannot be verified or the data changes, your initial Boise home loan approval may be void.

I would strongly recommend that a  Idaho First Time Home Buyer, print out a copy and hand write the application.  There are only 4 pages to the application and should only take 20 or 30 minutes to complete. 

It is in the best interests of a Idaho first time home buyer to take a few minutes and become more familiar with the Boise home loan application.  Remember, you will be committing to borrower $50,000 to $400,000 for 30 years and agree to pay it back.  It is worth to take the time and Take Control of Your First Idaho Home Loan!

After you have completed the Boise home loan application make a copy for your files.  Use  your copy to compare to the upfront disclosures that you will receive within 72 hours after application.   Make sure the data hasn’t changed.

Idaho first time home buyer loan application .  Please click on the PDF and down load the application and Fax Cover Sheet.  Please fax it 208-489-2809 or scan and email to CBallhagen@GuildMortgage.net .

Please call my cell if you have any questions about the Boise home loan application or process.   208-713-3309   Thank you

Please visit my $8,000 tax credit blog. 

Other post like this one-

• The “New” Home Buyer Tax credit For Boise Idaho
• No HVCC for Boise Idaho First Time Home Buyers
• Boise First Time Home Buyers Leverage Tax Credit
• Boise Idaho Home Buyers Free Credit Report
• Boise Home Buyers and Upfront Loan Disclosures
• Private Mortgage Insurance Really Stinks!

    To learn more about Guild Mortgage and myself please visit my other site.

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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