Posts Tagged ‘Buying’
10 Great Tips for Buying Your First Home
Without a doubt, buying your first home represents a major investment. It’s likely you’ll never make a purchase greater than this in your lifetime. However, it does not have to be a scary thing for you. Many first time home buyers wonder how to go about this, so please read on to find out the top 10 tips for buying your first home.
With the right amount of accurate knowledge you can make this purchase and feel good about doing it. In this article, I’ll help you get started and walk you through it step by step.
TIP #1: GET YOUR EDUCATION FIRST Before you even start looking at homes, learn what you can about the mortgage process itself. Since this is the single biggest debt most of us take on, don’t you think it’s important to understand how the mortgage works? What kind of mortgage is for you, how much and so on?
Spend time researching first time home buyer loans, discover for yourself what options you have and ask questions. Use the internet to begin this process.
Once you have a good feeling that you understand how a mortgage works, then begin to look for a large national bank. I do not suggest mortgage brokers. National Lenders are highly regulated and approved by the Federal Government for guaranteed FHA home loans.
I like Wells Fargo, Bank of America, J.P. Morgan Chase and Flagstar Bank. You should be able to find one of these lenders in your city and state.