Dispelling Current Loan Myths: The “I Don’t Have 20% to Put Down” Myth

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Many buyers think if they don’t have 20% to put down on a home, they will not be able to purchase a new house. This simply isn’t true! In fact, you can buy a home with much less than 20% down.

The most common home loan today is not the 20% type most people think of when a home loan pops into their mind. Instead, the FHA loan is the most common loan variety used now.

Many people think the “FH” in “FHA Loan” stands for “First Time Home Buyers.” In fact, it does not! Instead, the “FHA” stands for “Federal Housing Administration.” This means even if you’ve owned a number of homes, you can and may very well still qualify for the popular FHA Loan.

Why are the FHA Loans So Popular?

So why are these FHA loans so incredibly popular right now? With the economy’s downturn, people are strapped for money for a down payment for a new home. The FHA loan only requires a 3% down payment!
This low down payment makes these loans very popular today. It means you can get into a home quickly and with very little down. This is a great option if you want or need a new home but are strapped for equity right now.

Other Great Loan Options

VA Loans are an excellent choice, as well, if you qualify. These types of loans require no money down. To qualify, for a VA loan, you must be a retired or active member of the military or a qualified member of the reserves or National Guard.

USDA Loans are also a good choice for some. They require little down, as well. Contrary to popular opinion, these are not just for farms and large acreages. We can help you determine if you qualify for this type of loan. Some of the factors include: what county and zip code the home resides in, your current income and credit history, as well as the number of dependents you can claim.

So, have we dispelled the “I Don’t Have 20% to Put Down” Myth? This simply isn’t a reason not to buy a home right now. There are a number of options that don’t require the 20% down requirement. Charleston Homes wants to help you find the one that’s right for you!

Changes are Coming to Saddlebrook

Things are changing at Saddlebrook and we want you to be a part of it! We want to stay on the cutting edge of the housing market in Omaha and that’s going to require a little “house cleaning” on part.

So, what’s changing?

Changes in the Saddlebrook Neighborhood

We are redesigning the entire Saddlebrook model complex. We’ve redesigned the Caroline model floor plan. As a result, we are selling our current Caroline model home. It has a 3 car garage and a finished basement. And it has one other great feature: a fabulous price! In addition, this model home features open living spaces, cathedral ceilings, a covered patio, and 42" kitchen cabinets. It also is within walking distance to the new Omaha Community Center and Elementary School.

The Charlotte Model Home

We are also selling our 2 story Charlotte model home. It has 4 bedrooms and a 3 car garage, equipped with all of the model amenities. This house is such a great deal that we’ve discovered it is one of the best priced two-story homes in northwest Omaha! One of the reasons it is such an incredible deal is because it features a formal living room and an open floor plan. It includes 42" kitchen cabinets, eat in kitchen, wood floors, and a fireplace. The master bedroom is the ultimate retreat from a busy day. It’s luxury living at an economy price!

Easier Model Shopping

What’s the benefit to all of these changes? We want to make it easier for you to find exactly what you are looking for as easily as possible. We have several models lined up right next to each other in our new Saddlebrook location to make seeing each of them easy and quick. We are affectionately terming this “Ranch Central” because, if you want a ranch style home, this will literally be one stop shopping.

New Caroline Model

The new Caroline model will also be a part of “Ranch Central.” It will be a part of your new Charleston Homes experience in Saddlebrook. The new model will be open in mid-April and will sure to please! Be sure to check it out. If one of the homes we have on the market doesn’t strike your fancy, this model certainly will. We can build this home on practically any lot you find and it features all of the finer things you have come to expect from a Charleston Homes home.

Looking to buy an inventory home or have us custom build one of our spectacular floor plans exactly the way you want it? We are confident we have something you will want right now. Give us a call or check out our website to see if what we have will meet your specific needs. And you just may be sipping tea from the deck in your new home by summer!

Now is the Time!

The real estate season in Nebraska, specifically Omaha, picks up at the beginning of March and up through the Memorial Day weekend. That means that right now is the best time to start considering building your next home. In addition, the next few months are when the most buyers will be on the market hunting for their next home. So if you want to sell, do it!

Looking to Buy? Here’s why to do it right now:

1.) Interest rates are incredibly low right now. We anticipate these should stay relatively stable, but there is no crystal ball when it comes to interest rates. They could change at any moment.

2.) Land is on sale! Who doesn’t like a good deal? There are over 12,000 lots available right now. We can build anywhere in the Omaha market. We would love to work with the developer of your choice and find the right house for your next home.

3.) Now is the time to act. We have all sorts of ways to help you save money on your next home. We are taking presale orders right now to get you in a new home by August. Just think: you could be grilling hamburgers on the deck of your new custom home built in 5 short months! If that’s not quick service, I don’t know what is! That’s before the new school year starts, so act quick to get in on this fast track to a new home.

If you are in the market for selling your home, what does this mean for you?

1.) If you have a home to sell, now is the time to act. It’s as simple as that.

2.) Now is the time to act, even if you are just considering selling your home. Have someone inspect your home and determine how to sell it for top dollar. Then the choice of whether now is the right time to act is up to you.

With all of the talk of the lagging real estate market, there’s little doubt that being proactive in selling your home is the way to go. In other words, don’t put it off. As the old saying goes, “The early bird gets the worm.”

Whether you are looking to buy or sell your home right now, March and the next couple of months is the time to do it! We have agents ready to put you in your dream home in just a matter of a few months. Or, if selling is what your future plans hold, now is the time to do it to capitalize on the spring housing rush.