Stop Paying Bozeman Rent. Buy a Home in Bozeman.
‘Ever wondered why the high rent in Bozeman? …allure, vitality, quality. Consider buying your own Bozeman home. Short on money?
For many Bozeman renters, buying a first home seems like an impossible task. Renters often feel trapped in Bozeman’s expensive rental scene.
Buying Your First Home: A Means To Stop Paying Bozeman Rent
Buying your first home is an important milestone in home ownership, but producing the cash or securing a mortgage or financing for the down payment can be vexing.
Learn about Bozeman home financing options. Look at ALL your assets in a new way, which may help resolve your home financing concerns.
Explore Options For A Low Down Payment
Because you presently pay your monthly rent (must be timely), you have proven you can make monthly house payments, but where will you get the down payment for your Bozeman home? You may be thinking, but how can I possibly save enough money for a down payment when I’m already paying rent every month?
You May Not Need As Large A Down Payment As You Imagined
There are many low down payment–even zero-down–payment programs available. I will help you find mortgage loan referral persons from Bozeman and national lending institutions. You may also call banks and mortgage companies listed on-line. Ask each mortgage and lending institution about specific home loan options; they may be able to tailor loan options to your individual needs.
Bozeman Home Buying Programs
There are also local, state, and federal programs designed to help renters become homeowners (see link at the top of this page). Again, call me, 406.579.9683, about these and other home-owning programs. A little education will help you understand the ins-and-outs of financing your first Bozeman home.
Work With The Sellers
Although risky, you could ask the owners if they would be willing to act as your lender and carry your loan. Sometimes, if you commit to pay more than the asking price, or you even offer to pay a higher interest rate, sellers who choose to carry the loan may not require a down payment or as large a down payment as a lending institution. It doesn’t hurt to ask.
If you don’t have debt and own free and clear an asset like a car, boat, or raw land, you may qualify for a house loan. Ask your lending institution if they would lend you the down payment using your asset(s) as collateral. While this option may come with a higher interest rate, it may work.
Ask Friends Or Family Members For Assistance
Many lending institutions allow borrowers to use gifts for their home’s down payment. Maybe a family member or even a trust-worthy friend is in a good financial position to help you purchase your first Bozeman home. It’s worth the call.
Keep Saving For Your Bozeman, Montana Home!
While you explore your Bozeman home-acquisition options, continue to save money for your down payment on a regular basis, even if it’s only $100 each month. Not only will this habit of saving money bring you closer to your goal of home ownership in Bozeman, MT, but Bozeman mortgage institutions will note your good record of responsible saving.