Buying vs. Renting Using FHA Loan & $8,000 First time Buyer Credit

Stop Paying Your Landlord Buying vs. Renting How To Buy A Home Using an FHA Loan and The $8,000 First Time Buyer’s Tax Credit To Save Money and Build Personal Wealth

Stop Paying Your Landlord Steve Wagner – MBA, CIPS Real Estate Investment Consultant [email_address] ,[object Object],[object Object],[object Object]

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Cash Needed To Buy- Example ,[object Object],Purchase Price $200,000 Downpayment -$7,000 Loan Required $193,000 50% of Mortgage Insurance Premium $3,317 Loan Including 50% of Mortgage Insurance Premium $196,317 Closing Costs (up to 6% paid by seller) -$2,571 Upfront MIP -$3,317 Uses of Cash Downpayment -$7,000 MIP Upfront -$3,317 Total Cash Out -$10,317 Sources of Cash Adjustments At Close & Seller Closing Costs Paid $5,000 Tax Credit Bridge Loan $6,500 Net Cash Required -$1,500

Buying vs. Renting - Example ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],With a qualifying FHA Loan and a Tax Credit Bridge Loan This Can Be Done With Little or No Money Down

FHA Loans - Buying a Home using a FHA Loan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Buying vs. Renting – You Can Do This ,[object Object],[object Object],[object Object]

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Buying vs. Renting Using FHA Loan & $8,000 First time Buyer Credit

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