First Time Home Buyers In Arizona

Written by Christa Gatewood
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Buying a home for the first time can be a daunting task. There are so many details to consider, such as figuring how much you can afford, finding the right mortgage and making an appropriate offer. The good news is there is plenty of help out there. Many states, Arizona included, have first time buyer programs that assist with the decision-making and paperwork.

Some of the problems that face first time buyers include not being able to afford a single-family home, not having enough cash on hand for a down payment, closing costs or minor necessary repairs, and having credit problems. However, a good real estate agent can assist a first time buyer in finding programs and mortgages that will assist with these problems. Most programs also offer homeownership counseling as well.

Buying a Home for the First Time

Buying a home is a great way to invest your money. Often 100 percent financing is available to first time buyers with good credit. And, mortgage payments can be as cheap as rent for a comparable home. Everyone has to live somewhere, so it makes more sense to invest in the equity of a home rather than throw that money away on rent.

Since most first time buyers are looking for less expensive housing, perhaps a condo or townhouse would be best. Arizona has plenty of both to offer. Condos and townhouses are also attractive to first time buyers because they don't require the maintenance of a single-family home and first time buyers many not be used to all that entails. In addition, Arizona has many single-family homes at low prices that are affordable for low and middle-income families.

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