Build Your Own House

Affordable Builder Homes

Summary: 100 % Financing, Zero down payment mortgages or low down payment mortgages can make buying a new home from a home builder more affordable.

The National Association of Realtors recently reported that the most difficult step in the home buying process is saving for a down payment.

You may have a great job with a good salary, but car loans or leases, school loans, high rent payments, etc. make it almost impossible to save for a down payment.

Well, you may be able to buy a new house from a home builder/developer in a subdivision where home prices are competitive and the builder or developer, or the mortgage lender they work with, may have a low down, or even a zero down mortgage program.

New homes in some subdivisions are often as inexpensive as a house you build yourself because these developers often receive volume discounts from their suppliers and contractors. Also, these less expensive homes are most often quite limited as to the number of floor plans, design, (often called cookie-cutter homes), and lot size. However, these homes usually come with a warranty, modern appliances, high energy efficiency heating and cooling, and more.

You may be able to replace your high monthly rent payment with a lower monthly mortgage payment by buying one of these homes.

Then, your monthly housing costs not only may be lower than your rent is now, many of the costs of owning a house are tax deductible!

And, if your new home increases in value over the years, you will benefit.

Also, there are now thousands of down payment programs available that can make it easier for you to buy existing houses.

According to Down Payment Resource: There are more than 2,400 homebuyer programs available across the country–they can be as unique as the homebuyers and communities they serve. Our research found that 87% of U.S. homes are eligible for one or more homeownership programs. The down payment program benefit most frequently found is $10,000.

CarlHeldmann