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Cam Barnett, III's Blog

By Cam Barnett, III | Broker in Charlotte, NC

What First Time Homebuyers Need To Know By Cam Barnett III

    What First Time Homebuyers Need To Know

 My name is Cam Barnett III and I am a Realtor with Exit Realty in Charlotte, North Carolina.  I have had the opportunity to work with over 100 first time homebuyers throughout my 5 years as a Realtor here in Charlotte.  Now is by far the best market I have ever seen for first time homebuyers. 

There are several financing options available for first time homebuyers.   FHA loans are readily available and only require 3.5% down.  BB&T here in Charlotte offers the Community Homeownership Incentive Plan, better known as the CHIP loan.  The CHIP loan offers 100% or 97% financing with NO PMI. 

The $8,000 first time homebuyer tax credit is available to anyone who has NOT owned a home in the prior 3 years.  This money is FREE…it never has to be repaid unless you sell your home within 3 years of purchase.  The $8,000 can be used as down payment assistance on FHA loans, and can be used as a credit on your 2008 or 2009 tax return with any other loans.  Remember, you must close on or before November 30, 2009 in order to receive the $8,000.  All homes qualify for the tax credit, including New Construction.

I specialize in working with first time homebuyers and would appreciate the opportunity to speak with anyone interested in purchasing their first home.  Please feel free to email me at campbellbarnett@yahoo.com, or you can call me directly at 704-400-6391.

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