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Greetings,

I am looking to move out of NY and into PA, preferably to York county due to its niceness and affordable homes.

About Me:

* first time home buyer
* excellent credit score
* self employed 7+ years
* good income (over $100k to hint)
* will be married before I officially buy a home
* looking to do 15 year mortgage
* would prefer private community with amenities

I spoke with someone from Gemcraft Homes at the Taylor Estates community in York county. Nice homes.

I visited 3 models, then the 4th one where they had their mini sales office is the one that stunned us. It was all decorated, furnished, painted, carpeted, etc. The whole nine yards. Its called Aspen. Beautiful home and me and my fiance want to buy that model home as is to avoid 6+ months in waiting on a new home to be built and plus, this one was built in 2006 and cost less to buy as is than to build from scratch.

Attached are screenshots of good faith estimates and price sheet. They want $349k for the model home which they claim they normally would have sold for $495k.

What are your thoughts? What "first time home buyer" advice can you give me, especially on the following?

* negotiating skills
* proper research on builders/sellers
* house warranty
* mortgage loan (I want a 15 year only)
* closing costs (how to reduce)

Thanks in advance.

jameshogg · Posted: Sun Dec 27, 2009 10:52 pm Post subject:

Hi Chad,

It is very important to research properly about the property before you buy it. A proper research about the property will help you know if there are any flaws in it or whether or not you would require any kind of home improvements once you move inside the property.

As far as a mortgage is concerned, you will have to shop for it. Speak to some of the local lenders of your area in order to have a clear idea about the rates and terms of the loans. If you want to reduce closing costs, you can pay discount points to the lender. Discount points are prepaid interest on the mortgage. Borrowers pay zero to three or four points, in order to lower their interest rates. You can speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will help you know whether or not you will be able to get approved for a loan.

Thanks

JKennedySLG · Posted: Mon Dec 28, 2009 11:39 am Post subject:

Before moving any further, I would suggest getting Pre-Qualified for the amount you feel comfortable with. If you are uncertain of what amount may be suitable for you then you need to speak with a lender, either within this community and/or in your area.

Interest Rates on a 15 Year Fixed Mortgage are starting at about 4.5%. I hope this helps...

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First Time Home Buyer / Need Advice