Im a first time homebuyer. How do I save tens of thousands of dollars on a new home?
A- As a first time homebuyer, you can save a great deal of money and here’s how. 1- If you purchase before December 2009, you will get an $8000 tax credit from the government. You can file an addendum to your current tax filing and get the $8000 now, but you have to purchase a home by December 2009 or you have to pay the $8000 back. 2- If you purchase a home in a House Charlotte community (many around the greater Charlotte area), you can also get $7500.00 to use as your down payment or to buy down your interest rate. 3- If the house your are interested in is under $200,160.00 you can use the NACA program and greater reduce your interest rate to as low as 0.1%, or for practical purposes as close as you can get to an interest free loan. If you use the NACA program, there is down payment required (usually 3.5% if an FHA mortgage), there are no closing costs (usually 3-5% of purchase price), there are no origination fees to secure the loan (usually 1% of purchase price.) 4- If you were to
