The volume of mortgage applications submitted to lenders is at an eight-year low, the AP reports. This news comes a day after the U.S. Commerce Department reported that construction of new homes hit a 17-year low in July. While this news makes investors and economists wince, if you’re in the market for your first home, it’s music to your ears. [...]

Did you know that if you are an American buying your first home between April 9, 2008 and July 1, 2009, the U.S. government will give you up to $7,500 in the form of a federal tax credit? [...]

Sick of renting, but not ready to spend your Saturdays on a lawn mower? Often featuring desirable locations, minimal maintenance, and smaller price tags than single-family homes, it’s no wonder young homebuyers find condos attractive. But living in a condo can present some unique challenges. Ask yourself these questions to make sure a condo living is right for you. [...]

Mortgage crises or not, it’s still a great time to buy your first home. Be smart, however, and have a pre-approved mortgage in hand before going house hunting. Applying for (and getting approved for) a mortgage before you shop could save you time, money, and heartbreak. Here’s how. [...]

A down payment between 10 and 20% on your first home or condo is more important today than ever before. Following the sub-prime mortgage meltdown, lenders are more cautious with mortgage applications and borrowers have (hopefully) learned some lessons about risky home loans. Of course, socking away $20,000 or more isn’t easy, especially in your twenties. Here are five steps to take to save up your down payment in record time. [...]

The real estate market is dismal these days, which means bargains-a-plenty for first-time home buyers. Problem is: the real estate market is suffering because so many homeowners took out loans they can’t repay. In turn, mortgage lenders have tightened their purse strings, making qualifying for a home loan a challenge.

That’s not to say getting a mortgage today is impossible. Could you qualify for a mortgage? Here are the three numbers that hold the answer. [...]

Last week I wrote about my return to sharing an apartment after living alone. Moving in with unknown roommates or renting out a spare bedroom can be daunting, but can save a fistful of cash. Here are 10 tips to increase your chances of finding a shared apartment or home with a roommate you can actually live with. [...]

In just five years since college, I have experienced every living situation imaginable (read on for the list). Based upon my rental resume, one would think that once I found myself living alone, in a modest one bedroom, I would stay put. I didn’t. [...]

One thing is for sure: It is a difficult time to sell a house. Shouldn’t that mean it is a good time to buy a home? It should, but it doesn’t. [...]

Once you’re locked into a mortgage, it can seem like the only way you’ll ever reduce the amount you’ll pay in interest is to wait until rates are lower (or your credit is better) and refinance. But there is another way… [...]