Dear First Time Home Buyers;



This is an open letter to you. Im writing this letter to help you, the first time home buyer, purchase a new home during the time when most people are scared and find themselves holding back. I know, youre saying Wait a minute, we have a credit crisis how am I supposed to buy a house?





Relax.No doubt, this country is in a mortgage crisis. But YOU are not. Why do I say this? Because you do not have a mortgage that has gone into default, or an adjustable interest rate that adjusted etc.etc.etc. You have nothing to worry about since this mortgage mess does not really affect you.



Lets look at the bright side of this. With all the foreclosures, bank failures and credit squeezing going on, you, the first time home buyer are in the perfect storm!! How can you take advantage of this mortgage crisis? Read on and Ill explain.



The very thing the US government wants banks to do is lend money to home owners. They even have loan programs where they guarantee the banks against defaults. Yes FHA has been around for many years. Congress created the Federal Housing Administration (FHA) in 1934. The FHA became a part of the Department of Housing and Urban Development’s (HUD) Office of Housing in 1965.



The problem is, the banks seem to feel differently about lending money. The lenders are hoarding cash like theres no tomorrow. But, that does not have to stop you. Dont worry, Ill show you what I mean. If you qualify, you can get an FHA home loan.



WHO CAN QUALIFY FOR AN FHA HOME LOAN?



They can be first time home buyers or it may be their second home or whatever. It really does matter. All you need to do is meet the FHA guidelines as a home buyer. I once thought FHA loans were only for first time home buyers. That simply is not the case.



Now you may wonder how I can say this with such confidence. Ive been around for some time now. Ive watched markets rise, then sink and rise again. Im not some spring chicken here. Mortgage interest rates are now at all time lows. Housing prices are the lowest they have been in decades. There can be no better time to buy a house!!! Besides, why not do your part to jump start the USA economy??



So how do you get started?



Heres 6 things to do:



1) Know your credit score

2) Repair your credit if needed

3) Find a good FHA lender

4) Get pre-approved for an FHA mortgage

5) Locate a good realtor

6) Buy your first (second, third, etc) home



I know that all sounds easy. After all, can you really do it in just 6 simple steps? Yes, but there are some important details you need to know before taking each one of those steps. Lets briefly talk about them one at a time.



KNOW YOUR CREDIT SCORE



This is not all that hard. Did you know you can find out your credit score for FREE? One time a year you can request your own personal credit report. You must do this first!! Once you have that report in hand, you might discover a few things you did not know or like seeing on there. Thus you may find yourself in need of credit repair which is a whole other topic Ill write to you later. This is where you start no matter what.



REPAIR YOUR CREDIT IF NEEDED



Ok, perhaps you learn you need help with your credit. Maybe things in past have not gone so well for you. Dont worry, you can do credit repair by yourself if you have the right information. Im happy to help you here if this is the case for you. This can be a rather daunting project, but because youre determined to become a first time home buyer youre up to the task right? OK then, lets move on.



FIND A GOOD FHA LENDER



Now youre credit is in decent shape, we need a good FHA lender. Remember earlier how I said the US Government wants people to buy houses? Well, after all the bank failures in 2008, there is still one good loan program out there for first time home buyers. The FHA loan has been around for over 74 years now. Heck, I bought my first home using an FHA home loan in 1978. It was great!! The house I bought was a foreclosed home in bad need of repair. I was fortunate enough to have a builder/realtor that got me qualified for an FHA mortgage, then I purchased the home and he repaired to brand new conditions. Now you can do the same thing. I can show you.



GET PRE-APPROVED FOR AN FHA MORTGAGE



Once we have our credit in shape, we have found a good FHA lender, now we need to get pre-approved for that FHA home loan. This is a rather simple process that can be handled over the phone, e-mail and overnight package deliver. Forget DHL, I guess theyre out of business!! This current economy stinks, but we still have Federal Express and UPS. Oh yes, dont forget the US Postal system! (Not recommended) Dont worry, since I can help you find a good FHA lender, we can do this together. Once you complete the mortgage application process youre on to the next step.



LOCATE A GOOD REALTOR



During this mortgage meltdown, many realtors have left the trade and gone looking for other income. Guess whose left?? Only the good ones!! Yes any realtor left standing during this financial disaster we find ourselves in is bound to be strong. So how can you pick one that is REALLY GOOD? Since only the cream of the crop is left over you can have your pick!! Again, Im happy to help you know what to do here also. You can interview them as candidates for a job since they will be working for you. Please visit my site to learn more.



BUY YOUR FIRST HOME



Now we get to the good part. As a first time home buyer, youre ready to own a home. The selection process is a stressful thing. However, with the right kind of help you can know how to tell a good home from a bad one, a good deal from a bad deal etc. Once again you need someone on your side in this area also. Since I have experienced buying several homes, perhaps I can help you. Since Im also a builder, I understand home construction. Also I was once a loan officer working for a great FHA lender, so I know mortgages. Especially the FHA mortgage since I closed millions of dollars in FHA loans across the USA. Im now retired!



So who am I now? Someone that can help you understand the language, the mortgage process and such. If you need further information I put together a website loaded with details on all 6 steps. I offer tons of free reports etc. to help you make an educated decision. There has never been a better time for first time home buyers. Everything is in your favor. Take advantage of the mortgage crisis and purchase your first home now.