One of the most common deterrents to first-time home buyers is the lack of a down payment. However, the home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.

Some states sponsor loan programs that allow buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan. Parents can also give their children down payment help through a personal note or second trust deed. The terms can be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.

With so many alternatives, doesn't it make sense to call your real estate agent for a free consultation? You may be closer to home ownership than you think.

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Eileen and her husband Randy have 5 children and are anxiously waiting for grandchildren. Eileen has been a licensed real estate agent for over 27 years, handling both commercial and residential. During this time she also owned 3 very successful restaurants, a boat yard and a marina. She lives in Issaquah and is passionate about homes and real estate. In fact, she is so passionate that she and her son Jon own a development and construction company, as well as a real estate company. Eileen knew early on, that in order to be successful, she would not only need to continue with the quality of service her clients had come to expect but would need to stay abreast of new technologies and developments in the world of computers. Her office is equipped with the most current hardware and software to better service her clients.

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