If you've never bought a house before, you're probably very intimidated by the idea. Do you know what you should look for in a home? How to find the right real estate agent? How to get financing for the home? Many first-time home buyers don't where to start. But it doesn't have to be scary or difficult. Here's a step-by-step breakdown.
Choosing the Right Option ARM
by Clayton Closson on September 8, 2006 in Home Buying
There are literally hundreds of mortgage loan “products” in the market these days, many of which are structured to provide homeowners flexibility. Option ARMs are made specifically to offer flexibility. But everyone is different and has different needs, so there isn't a one-size-fits-all. How do you choose the right Option ARM?
Closing on the New House While Selling the Old
by Clayton Closson on August 25, 2006 in Home Buying
Having a hard time selling your old house while trying to get into your new house? Many people get a bridge loan or a home equity loan in order to get the money for the down payment they need. But there's a better alternative emerging in the housing market.
Three Mistakes Every Home Buyer Should Avoid
by Clayton Closson on August 4, 2006 in Home Buying
Getting a mortgage may be the biggest financial transaction you'll ever make. If you're going to get a mortgage or buy a home, there are three mistakes you should avoid making.
How to Finance a Fixer-Upper Home
by Clayton Closson on July 7, 2006 in Home Buying
Looking to buy a “fixer-upper?” It could cost a lot of money to repair and get it up to your living standards. So where do you get the money to finance the remodeling?
Getting a Mortgage with Bad Credit
by Clayton Closson on June 16, 2006 in Home Buying
Having poor or blemished credit doesn't necessarily mean that you can't get a mortgage. Many lenders will write so-called “sub-prime” loans, though it means you'll be paying more for it. Find out what you can do to get a loan if you have bad credit.
What Every Home Buyer Should Ask Themselves
by Clayton Closson on May 19, 2006 in Home Buying
Buying a home for the first time can be confusing, scary and overwhelming, especially since it is the largest asset many people will ever have. Knowing the basics can get you started on getting the right mortgage and into the home you want.
What Is a Balloon Mortgage?
by Clayton Closson on April 24, 2006 in Home Buying
There is a lot of mortgage jargon out there, phrases like “balloon mortgage.” No, it's not like getting a balloon with your mortgage like you would with a birthday present. So what is it and why would you get one?
What Is a Second Home?
by Clayton Closson on April 3, 2006 in Home Buying
Now that Spring has begun, you might want to start thinking about what you want to do for your summer vacation. Do you want to spend a lot of money on an expensive vacation or would you rather use that money toward buying a vacation home that you could spend time at whenever you wanted?
Which is Better: Renting or Buying?
by Clayton Closson on March 10, 2006 in Home Buying
Unfortunately, there's no set answer to this question, though many people will tell you that buying a home makes more financial sense. Whether it's better to rent an apartment or buy a home is ultimately up to you, since you have to consider your own situation.
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