| A house is just that, a house, until someone lives in it. | | | | can't afford! Consider your other obligations and how |
| That's when it becomes a Home. There's a big | | | | the new payment will affect your budget. |
| difference. At our house, we always say our home is | | | | Sometimes, scrupulous mortgage brokers and lenders |
| "well lived in." And, with a family of six, four of them | | | | don't really consider if you can actually "afford" the |
| being between the ages of 9 and 15, this house has no | | | | loan for your home. They boast that they can get |
| choice! Our house, being in the family for over 65 | | | | "anybody" a loan. That's easy when you don't really |
| years, is a well seasoned "home." | | | | care about the final results. Besides, it's a secured loan, |
| Who wouldn't love to live in a luxurious home with all | | | | which means, your commitment is secured by your |
| the newest gadgets and high tech inventions? Well, I | | | | property. They'll simply take your home if you don't |
| would venture to guess that most of us have thought | | | | meet your commitment. So, be careful. Always use a |
| of it. But, what's really important when you consider | | | | reputable company for your mortgage needs. They |
| buying a home? | | | | may not tell you what you want to hear, but they'll look |
| If you're a seasoned home shopper you may already | | | | out for your best interests. |
| have learned from experience what type, location, and | | | | GinnieMae.gov has a calculator to help give you some |
| price of home is good for your family. Setting some | | | | idea how much you can afford. Always live within your |
| guidelines and priorities is a good way to start the hunt. | | | | means to prevent self-created financial disasters. |
| First, make a wish list. This is a great starting point for | | | | When you know what you can afford, shop and |
| anyone and will help get your priorities in order! | | | | compare. Hud offers a great home buying booklet at |
| Knowing what you want or need is half the battle. | | | | Looking for the Best Mortgage, that answers |
| This will include some essential questions you need to | | | | questions and prepares homeowners for the |
| ask yourself also like, what you can afford?, are you | | | | mortgage shopping experience. There is even a form |
| willing to do renovations and how much?, and lists | | | | for you to keep track of home loan comparisons. |
| specific needs for your family. | | | | Don't be a Victim of Loan Fraud |
| Location, Location, Location... | | | | The Federal Citizen Information Center warns |
| Location can be flexible for some families, but must be | | | | consumers to protect themselves from predatory |
| specific for other families. Work, disabilities, and children | | | | lenders! Before you make a final decision, take the |
| are just a few factors that can influence location | | | | time to review the 11 Tips on Being a Smart Consumer |
| necessities or desires. For instance, if you don't want | | | | at [ |
| to commute long distance to work you will need to | | | | When looking for a mortgage, don't forget to ask |
| consider travel time to work. If you or a family | | | | about specialty loans. You may qualify for specialty |
| member have disabilities that require special | | | | loans if: |
| treatments or services, you will need to consider travel | | | | - You're a Teacher |
| time to current providers, or consider availability of | | | | - You are purchasing a home that needs remodeling. |
| services in the new location. Local schools, and their | | | | - You are a first time buyer |
| reputations, will play an important role in location for | | | | HUD answers 'Common Questions from First Time |
| those families with children, as well as neighborhood | | | | Home Buyers" at |
| safety. | | | | Whether you're buying your first home or growing into |
| Affordability | | | | a new home, you'll be successful if you take your time, |
| There's no satisfaction in qualifying for a loan that you | | | | know your priorities, and research all your options! |