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  • This topic has 85 replies, 10 voices, and was last updated 15 years ago by an.
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  • January 11, 2011 at 2:54 PM #652765
    jimmyle
    Participant

    Thanks every one for your advice and support, the seller accepted my offer. Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.

    Is there any government (state, local, federal) grant, tax break that I should be aware of as a first time home buyer?

    Thanks,

    January 11, 2011 at 11:05 PM #651999
    CA renter
    Participant

    [quote=jimmyle]Thanks every one for your advice and support, the seller accepted my offer. Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.

    Is there any government (state, local, federal) grant, tax break that I should be aware of as a first time home buyer?

    Thanks,[/quote]

    Not sure what your income level is, or where you’re buying, but you might want to check the Mortgage Credit Certificate Program. I used it when purchasing a home in 1998, and it was a pretty good deal. IIRC, there are a limited number of these, but since it’s early in the year, you might get lucky.

    BTW, there are other programs listed in this link that might be of interest to you or other buyers.

    Good luck!

    http://www.sdcounty.ca.gov/sdhcd/homeowners/mcc.html

    January 11, 2011 at 11:05 PM #652066
    CA renter
    Participant

    [quote=jimmyle]Thanks every one for your advice and support, the seller accepted my offer. Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.

    Is there any government (state, local, federal) grant, tax break that I should be aware of as a first time home buyer?

    Thanks,[/quote]

    Not sure what your income level is, or where you’re buying, but you might want to check the Mortgage Credit Certificate Program. I used it when purchasing a home in 1998, and it was a pretty good deal. IIRC, there are a limited number of these, but since it’s early in the year, you might get lucky.

    BTW, there are other programs listed in this link that might be of interest to you or other buyers.

    Good luck!

    http://www.sdcounty.ca.gov/sdhcd/homeowners/mcc.html

    January 11, 2011 at 11:05 PM #652655
    CA renter
    Participant

    [quote=jimmyle]Thanks every one for your advice and support, the seller accepted my offer. Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.

    Is there any government (state, local, federal) grant, tax break that I should be aware of as a first time home buyer?

    Thanks,[/quote]

    Not sure what your income level is, or where you’re buying, but you might want to check the Mortgage Credit Certificate Program. I used it when purchasing a home in 1998, and it was a pretty good deal. IIRC, there are a limited number of these, but since it’s early in the year, you might get lucky.

    BTW, there are other programs listed in this link that might be of interest to you or other buyers.

    Good luck!

    http://www.sdcounty.ca.gov/sdhcd/homeowners/mcc.html

    January 11, 2011 at 11:05 PM #652791
    CA renter
    Participant

    [quote=jimmyle]Thanks every one for your advice and support, the seller accepted my offer. Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.

    Is there any government (state, local, federal) grant, tax break that I should be aware of as a first time home buyer?

    Thanks,[/quote]

    Not sure what your income level is, or where you’re buying, but you might want to check the Mortgage Credit Certificate Program. I used it when purchasing a home in 1998, and it was a pretty good deal. IIRC, there are a limited number of these, but since it’s early in the year, you might get lucky.

    BTW, there are other programs listed in this link that might be of interest to you or other buyers.

    Good luck!

    http://www.sdcounty.ca.gov/sdhcd/homeowners/mcc.html

    January 11, 2011 at 11:05 PM #653120
    CA renter
    Participant

    [quote=jimmyle]Thanks every one for your advice and support, the seller accepted my offer. Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.

    Is there any government (state, local, federal) grant, tax break that I should be aware of as a first time home buyer?

    Thanks,[/quote]

    Not sure what your income level is, or where you’re buying, but you might want to check the Mortgage Credit Certificate Program. I used it when purchasing a home in 1998, and it was a pretty good deal. IIRC, there are a limited number of these, but since it’s early in the year, you might get lucky.

    BTW, there are other programs listed in this link that might be of interest to you or other buyers.

    Good luck!

    http://www.sdcounty.ca.gov/sdhcd/homeowners/mcc.html

    January 11, 2011 at 11:34 PM #652009
    an
    Participant

    [quote=jimmyle]Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.[/quote]
    Although I didn’t feel nervous since my expectation was to experience 20% decline (I was OK w/ it and planned to stay in it for a very long time), I definitely had a feeling I might have overpaid too. But I always feel that way after I buy something. However, after you get your keys and start moving in, all of those feelings will go away and be replaced w/ excitement of owning your own place. Just take a chill pill and enjoy the ride. It’ll be fun :-).

    January 11, 2011 at 11:34 PM #652076
    an
    Participant

    [quote=jimmyle]Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.[/quote]
    Although I didn’t feel nervous since my expectation was to experience 20% decline (I was OK w/ it and planned to stay in it for a very long time), I definitely had a feeling I might have overpaid too. But I always feel that way after I buy something. However, after you get your keys and start moving in, all of those feelings will go away and be replaced w/ excitement of owning your own place. Just take a chill pill and enjoy the ride. It’ll be fun :-).

    January 11, 2011 at 11:34 PM #652665
    an
    Participant

    [quote=jimmyle]Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.[/quote]
    Although I didn’t feel nervous since my expectation was to experience 20% decline (I was OK w/ it and planned to stay in it for a very long time), I definitely had a feeling I might have overpaid too. But I always feel that way after I buy something. However, after you get your keys and start moving in, all of those feelings will go away and be replaced w/ excitement of owning your own place. Just take a chill pill and enjoy the ride. It’ll be fun :-).

    January 11, 2011 at 11:34 PM #652801
    an
    Participant

    [quote=jimmyle]Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.[/quote]
    Although I didn’t feel nervous since my expectation was to experience 20% decline (I was OK w/ it and planned to stay in it for a very long time), I definitely had a feeling I might have overpaid too. But I always feel that way after I buy something. However, after you get your keys and start moving in, all of those feelings will go away and be replaced w/ excitement of owning your own place. Just take a chill pill and enjoy the ride. It’ll be fun :-).

    January 11, 2011 at 11:34 PM #653130
    an
    Participant

    [quote=jimmyle]Now I am doubting myself on whether the offer is $10-$20K too generous. But I really like the place and everything about the house feels right and I plan to stay here a long time so it is OK I guess. I just need to get the loan done and I don’t expect any problem with qualifying.[/quote]
    Although I didn’t feel nervous since my expectation was to experience 20% decline (I was OK w/ it and planned to stay in it for a very long time), I definitely had a feeling I might have overpaid too. But I always feel that way after I buy something. However, after you get your keys and start moving in, all of those feelings will go away and be replaced w/ excitement of owning your own place. Just take a chill pill and enjoy the ride. It’ll be fun :-).

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