Thinking about becoming a home owner this year? (Perhaps you want to nab the $8,000 first time home buyer tax credit.) If so, take a deep breath and prepare yourself financially and mentally for a rewarding, but challenging, experience. Whether you’ll be buying this month or next year, here are five things you really need to know about buying a home. [...]

If you will be able to claim the $8,000 first-time homebuyer tax credit this year or next, here’s some helpful information. A recently released revision to IRS Form 5405 will help you through the steps required to claim the credit. Here’s some more information that will help: [...]

My article on the $7,500 first time home buyer tax credit has become one of the most popular on this site, with well over 200 comments. As part of this month’s economic stimulus bill, that credit is changing to an $8,000 tax credit that, unlike the first credit, will not have to be repaid. Here’s what we know:. [...]

In December I suggested that it was a good time for young professionals to think about buying a home or a car. It was, and still is, very much a buyer’s market. (Assuming, of course, you have the cash and excellent credit available to qualify.)

But some disagreed with me, noting that property values will continue to decline. Fast forward two months, and mounting job losses has certainly added to the reasons not to make any big purchases this year. Still, are there reasons to buy your first home now? Perhaps. [...]

Loan modification companies are sprouting up left and right to take advantage of embattled home owners at risk of foreclosure. If this includes you; watch out. Some loan modification companies are nothing but down and dirty scams. [...]

Readers, can you help with this question? Another reader wants to know if he’ll be able to buy a home or condo right after graduating from college this year. He’ll be armed with a degree in accounting, already has a job lined up, and will have $30k in student loan debt. I’ll share my thoughts below, but I know some people out there who did buy homes right after school, and I’m curious to know how it went. [...]

There is a bright side to all of this economic doom and gloom going around. If you’re poised to buy a home—or even a car—in the next few months, you’re going to get quite a deal. [...]

Rather than explain mortgage rates every time I write about home financing, let me briefly explain the differences between fixed and adjustable rate mortgages, and mortgage points here. [...]

Like a mortgage, rent on an apartment is one expense that will never go down; at least until you move. That’s why it’s so important to find the right apartment with rent (and utilities) you can afford, lest you get stuck paying way more than you should until the lease runs out.

Here are a few money-saving tips to keep in mind the next time you go apartment hunting. [...]

Ready to buy a home with the one you love? Got good credit? What about your sweetheart? If not, getting a mortgage may be difficult, not to mention a strain on your relationship. First, you must understand how mortgage lenders view joint mortgage applications (whether you’re married or not). Then, take these steps to improve the odds you’ll land your dream home…and stay in love! [...]