First-Time Home-buyers Workshop Slated for January 21

For those considering entering the housing market for the first time, real estate experts are saying there has never been a better time. The combination of low interest rates, lower home prices and a tax credit extended until April 30, 2010 has created the "perfect storm" for first-time home-buyers. However, home ownership is not a decision to be entered into lightly. First-time home-buyers need the right information to proceed. For example, using a tool such as a rent versus buy analysis can take the guess work out of whether or not it is really in the best interest of a consumer to buy a home now or wait until later. The tax benefits of home-ownership need to be weighed against the cost of maintenance, insurance, taxes, and other considerations.

"Learning how to use the $8,000 tax credit and to qualify for government backed loan programs that offer no down payment or low down payment options can make the difference between enjoying the pride of home-ownership or continuing to rent," said Myrna Stout, Vice-President of Mortgage Lending at SouthWest Federal Credit Union.

"First-time home-buyers need information about the process to feel comfortable taking the next step. It can be an intimidating decision if you are not armed with the right information. Consumers need to know if they qualify for a home loan and how much they can afford before they start looking," continued Stout.

To answer the basic questions about home buying, SouthWest Federal Credit Union will offer a First-Time Home Buying workshop on Thursday, January 21 from 6:30 pm to 8:00 pm at the Holiday Inn, 850 S. Bluff St. in St. George. There is no charge for the workshop and it is open to the public. A light dinner will be served. Seating is limited to the first 50 people and pre-registration is required by January 19, by calling 674-6900.

All participants who register will receive a free personalized credit analysis. Topics covered will include: 1.) Learning what kind of credit history is needed to qualify.  2.) Finding the right home and how to successfully negotiate a favorable purchase price.  3.) Starting on a rent versus buy analysis.  4.) How to estimate the tax benefits of home ownership.  5.) Closing costs  6.) Understanding tax credits and financing options.