Resources for Home Buyers

Are there any special programs for first-time homebuyers? 

Yes! Desert Schools features low down payment options; so, you won't need as much cash up front. We also offer competitive interest rates, manageable payments that work with (not against) your budget, reduced closing costs and fewer fees. Other restrictions may apply.

How much home can I afford? 

The home amount you can afford is based on the amount of the mortgage loan you can comfortably support. Access our Home Financing Calculators for examples.

Generally, the amount of mortgage you qualify for is based on three factors

  1. Your monthly payments as a percentage of income
  2. How much cash you have for the down payment and closing costs
  3. Your credit history

What are the tax advantages of owning a home? 

You could have a lower overall tax bill. In most cases, mortgage interest and property tax are deductible, which may make your after-tax cost of home ownership lower than renting. In addition, as your home equity increases, you can borrow against it with a home equity loan or line of credit. You may even be able to deduct that interest from your taxable income. (Tax implications may apply, if you later sell your home at a profit.) Consult your tax adviser for details.

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