Today’s Mortgage Rates
Buying a home is a big deal.
Too often, I think people rush into home ownership because it’s seen as a sign of adulthood and financial responsibility.
But owning a home is a big commitment, it’s not a guaranteed good investment, and it’s a truckload of work. (I’ve been a homeowner for only two years and I already have a growing list of things to do and contractors to call…it’s not always the creative paradise remodeling shows make it out to be).
And last but not least, believe me, lots of people own homes and yet their finances are a mess! Home ownership can be a smart long-term move, but you want to know what you’re getting into.
With that said, I know that if you’re reading this, you’re probably going to buy a house anyway. That’s fine; I did too. So here I’ve put together a first time home buying guide to wrap up our best advice over the last few years in once place. Enjoy!
Preparing to Buy a Home
Don’t buy a home just because everybody’s doing it (they’re not) or because your Uncle Joe told you that it’s stupid to “throw money away” on rent (he’s wrong, too). Don’t buy a home because it’s a buyer’s market (which it is) or just because mortgage rates are so good (they are). Buy a home because you want to be a homeowner. Buy a home because you’re settling down. And only buy a home if you’re financially ready.
- How to Prepare to Buy Your First Home
- How to Know You’re Ready To Buy
- Are You Really Ready? 5 Reasons Not to Buy a Home
- How Much House Can You Afford?
- Understanding the Tax Benefits of Home Ownership
- Why You Should Create a New Home Expense Fund
Paying for Your First Home
For most of us, our home is the most expensive thing we’ll ever buy. And for most of us, we need one big loan to do it. It’s called a mortgage, and as all the recent foreclosures should tell us, it’s not something to take lightly. To pay for our first home, we’ll need good credit, a steady job, and a sizable chunk of cash for a down payment. Navigating the waters of home financing isn’t always easy, but these articles can help guide you.
- What You Need to Get Approved for a Mortgage
- First Time Home Buyer’s Mortgage Checklist
- Your First Mortgage: How to Apply and Get Approved
- Types of Home Loans
- Mortgage Rates Explained
- What Percentage of Your Income can You Afford for Mortgage Payments?
- How to Find the Best Mortgage
- An Intro to FHA Loans
- How to Qualify for an FHA Loan
- Buying a Home When His Credit’s Good, But Hers is Bad…
- Your Down Payment: Sources of Cash to Buy Your First Home
- How to Shop for a Mortgage: 7 Steps to Finding the Perfect Home Loan
- Pre-Approval vs Pre-Qualification
Shopping for Your First Home
In a perfect world, you would commit to buying a home and get mortgage pre-approval before stepping foot into your first open house. Obviously, it may be you didn’t realize you wanted to own a home until you see your dream home. Either way, shopping for a home can be a long and taxing experience.
- Your Home Buying Checklist
- 10 Tips for Hassle-Free House Hunting
- How to Find a Good Realtor
- Why to Get Mortgage Pre-Qualification Before House Shopping
- Online Home Searches: Convenient, But Not Always Accurate
- House-Hunting Secrets: Three Ways to Make the Most of Open Houses
- What Buyers Need to Know About Short Sales
- Should You Buy a Foreclosure?
Sealing the Deal
- The Secrets to Winning a Bidding War
- What Buyer’s Need to Know About Earnest Money
- The High Cost(s) of Buying a Home
- What Happens at a Closing?
- Moving Time? Some Tips To Make It Easier
And, that’s a wrap! Our first time home buying guide. Hope it’s useful. Do let us know what you think and if there are any topics you’d like to see us cover in the future! Happy home buying!