5 Creative Ways to Save for a Down Payment

down payment
1. Get Others to Help Fund Your Dream Home

This tip sounds a little strange but hear us out.  Many couples get married with an apartment full of appliances and furniture and all they REALLY want is a house to put all it all in.  Insert unique registries that allow wedding guests to give money towards the down payment of your home!  Sites like Feather the Nest are great ways to use monetary gifts towards your first home.

2. Negotiate with Seller Concessions

Seller concessions are a route to get a closing to happen quickly.  Sellers can front more money for closing costs which will result in money to put toward a down payment.   A request such as this can be guided through an experienced real estate agent such as myself to help with the negotiation process.  Of course, there are limits on concession based on the mortgage type but it’s certainly an avenue that will help place more money in the buyer’s hands as a deposit.

3. Look into Government Options

The U.S. Department of Housing and Urban Development, or HUD, offers host  of homeownership programs, including assistance with down payment and closing costs. These programs are typically targeted toward potential homebuyers who meet specific income or location requirements. HUD provides a list of links by state that direct you to the appropriate page for information about your state.  Your profession could also be a benefit when exploring options for financing such as law enforcement, firefighter, teacher, or EMT under the

Good Neighbor Next Door Sales Program for a 50% discount on a house’s HUD-appraised value in “revitalization areas.”  Veterans can looks in the option of a VA loan that will back part of a home loan through commercial lenders. Many times, no down payment or private mortgate insurance is needed but the program is designed to help our veterans secure a competitive interest rate.

4. Lean Into Employee Benefits

Employer Assisted Housing (EAH) programs assist low- to moderate-income workers with down payment assistance through their employer. In some states, a participating EAH employer will assist you with applying for a loan of up to $8,000 for down payment and closing cost assistance. The loan is interest-free and borrowers have 10 years to pay it off.

5. Take Advantage of Special Lender Programs

Small down payment?  No problem.  There are several lenders that specialize in home seekers but have small deposits to offer.  Many people believe that 20% is the minimum down payment.  Not sure.  Check into programs that require a total of 3% or 3.5% down.  However, it is important to consider upfront and monthly mortgage insurance payments, too.

Check into regional banks to see if they offer specific programs tailored to your down payments.
Research is always key to home buying whether it is your first home or your 10th!  You may find that chasing after the American dream isn’t as daunting as it sounds.

Let me know how I can help you in this process!  I am connected with many great lenders that can help you financing the home of your dreams and get you to where you want to be.  Call or text me at 480-466-8193.  

Home Tips, Lifestyle, Real Estate

Five Remodeling Trend That Are Happening Now…..

Mashing Up Styles
Mashing up different styles adds a unique look to what would be an ordinary room.  Too many patterns may be too much but think of mixing a white wall with brightly patterned pillSouthwestern-Mid-Century-Mashup8ows and an eccentric lamp to suit your taste.  Textured fabrics are a must.

The Connected Home
We can all agree that we live in a technology world.  If you fall too far behind, it’s hard to catch up.  But imagine living in a home that connects all your devices togethers to become more efficient.  Look for options that accelerate your flexibility, convenience, and affordability such as linking your fridge when you are low on milk or a iphone reminder that your carbon dioxide detectors batteries need to be replaced.  How cool is that?


Becoming Eco-Friendly and Energy-Efficient
Not only is an eco-friendly home a more efficient way to live, it’s fastly becoming trendy.  Construction of new homes are now using low-impact waste materials such as bamboo and wood to create beautiful earthy spaces.  Steel recycling material and concrete are becoming more popular energy-efficient ways to insulate homes as well.  Upgrading your home in different ways will save you money in the long-run.

Metal Accents
We’ve said it before, metal is HUGE now!  Accenting metal pieces adds a focus element especially when blended with wood to add texture.  Very trend forward, people!

Open Kitchens
Kitchens are truly the new living rooms.  They have become the place to gather, eat over a feast, have conversations, and connect with your family and friend.  New constructions are influenced by open kitchens that allow space and convenience. If you are trying to narrow down which room is most important to renovate, we highly suggest this space!

open kitchen
For more home trend ideas, follow me on my blog at: https://erinnewmanfinehomes.wordpress.com/
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Home Tips, Real Estate

Spring-Ready Your Home!

The enjoyable days of winter are dwindling to an end.  It’s time to do some spring clean-up before the desert heat sets in!  In order to make your home efficient and keep your utility bills down, here are a few things to make sure your home is running the way it should:
spring home

Clean Those Dirty Gutters!  
Debris and water can collect in your gutters and create a host of headaches (wood rot and foundation damage to name a few) if you aren’t paying attention!  If you’re a little iff-y about climbing onto the roof yourself, hire a professional to clean every six months.

De-Bug and De-Pest
Terminates and other insect can wreck havoc on a home.  Hire an exterminator (if the problem is mild, bug bombs can also do the trick) to thoroughly inspect your home for problem.

Check the Roof
Your roof is literally what hangs over your family’s head every night.  Make sure it’s in proper order to make sure there are no missing shingles, loose pipes, or cracks.  Similar to the gutters, if you don’t feel comfortable checking out the scenarios yourself, hire a pro.  Preventive roof work is a must for good home maintenance!

Get A/C Tune Up
If you have ever had your A/C unit give out on you in the heat of summer, you know how expensive it can be to get it serviced or replace the entire thing!  You may want to invest in a good A/C maintenance package that includes condenser and blower unit cleaning, coolant level check and refill, electrical connection securing, duct work inspection, and temperature difference measurement between supply and return.  It may save you lots of money in the long run!

Change A/C Filters
A clean system will help preserve the life of your unit and keep your utility bills in check. Set reminders to change them out every two months.

Check Irrigation System
If you have ever had a busted pipe, you know how you dread the next water bill! Irrigation lines are apt to deteriorate in extreme heat, which may result in broken pipes. Make sure your system is running through the proper channels and watering your lawn (and not the street!).

For more home ideas and real estate advice, follow my blog!

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