Bryan I see you jumping around between North Buffallo and Cheektowaga. Buying a house, while it’s not permanent, takes up some time. buy it, close, live there, if you decide you want to sell it you hvae to list it, wait for it to sell, close, etc.
Think long and hard what area you want to live in. Then look for a house in that area.
what is the star reduction? who qualifies?
Not many people know much about the STAR program, including myself. I just filled something out that my mom gave me and I get rebate checks in the mail. Nothing big but its free money.
Its basically a reduction in school taxes when you dont have any kids in school…in a nutshell…my taxes are about 3000 and homeoners was like 400 a year
Don’t sign a buyer agent agreement.
Go to…
http://www.buffaloniagarahomes.com/property/index.cfm
Find the house you want and use the listing realtor.
They should give you a better deal because they are the listing agent and they won’t have to split the commision with a different buyer agent.
how much free money should i expect from 1300 in taxes… i dont have any children…
+1 for duplex. Let someone else pay your mortgage while the house appreciates, then sell for a profit and buy a kick ass house in 5 years. Oh yeah, anything you put into a rental property can be written off on your taxes. Furnace, siding, yard rakes…
i hope u have alot of money set aside for closing costs because u have to have enough for almost a full year of taxes to put into an escrow account
All you need to know about STAR:
http://www.orps.state.ny.us/star/index.cfm
If you aren’t willing to read for free money, you don’t deserve it 
Not exactly as easy as it sounds, trust me on that one. There is typically a lot of work involved, so don’t set your expectations in that stratosphere because you will be rudely awakened.
oh im gonna get every program i have coming to me FHA and STAR , ill even look for some minority crap if its out there
FHA doesnt give you money or anything. It is just a loan that requires a lower downpayment, but in turn has a little higher interest rate than traditional mortgages. I just bought a house and have an FHA mortgage. They are a lot more picky about things when it comes to the condition of the house (inspection) and it is still going to cost me 10K out of my pocket for a 130K house
why 10k out of pocket when its a 3% downpayment?
It’s actually a 2.25% downpayment. All the rest of the money is for closing costs.
Regardless of downpayment, expect a few grand for closing.
$500 atty
$300 inspection
$1000 earnest
$400 1 yr home warranty
$300 appraisal
$500 - 1500 Flood cert fee, doc/prep fee, title insurance premium, clerical fee, mtg recording tax, etc.
2.25% Down
Or
You could pick up a mortgage product that roles closing costs into a 10 - 15 year loan which would allow You to bring no more then down payment monies to the table.
Not like I know anything about any of those…
plus figure 8 months of taxes…when i closed on my house in july when all said and done
it was just about 10 grand…5 of it was closing costs alone…the other 5 was down payment…and reguardless of STAR you have to apply for it after you own the home so at closing you have to pay full taxes
:mamoru: I’m bringing $800 to closing on our next home.