Buying Your First Home

Getting pre-approved for a mortgage loan can make the entire home buying process go smoother. Even with the wealth of home buying information available on the Internet, it's a good idea to have an agent. Many women who get invited to baby showers don’t have children of their own, leaving them with no idea what to buy for the soon-to-be mom.

If your on a tight budget, you don’t have to splurge to get a designer baby bag. Buying points can lower the interest rate of a mortgage loan, but that doesn't automatically make it a good option for every situation. Some home buyers pay points to their lender at closing in order to lower their interest rate over the life of a loan.

If the lender requires that you take out a policy in both their name and yours, then you have no decision to make. Your mortgage lender will require you to take out a title insurance policy in their name. The sellers will be more comfortable with you since a lender has said, in essence, "Yes, this person is worthy of a home loan.

They can likely refer you to a lender who can help pre-qualify you for a loan. Here are some tips to help you balance emotion with logic for a safer home buying experience. Here are some more tips to help you get the most out of your house hunting experience.
As part of the home buying process, you need to take a good, hard look at your credit situation. Home buying brings out all kinds of emotions. Buying a home can stir up a lot of different emotions, and that’s perfectly normal.

How you proceed in light of the seller’s response is up to you and your agent. When you review the inspector’s list with your agent, you’ll have to decide which items (if any) you want the sellers to repair. On the other hand, if you plan to stay in the home (and keep the mortgage) for a long time, paying points could very well save you money.

Once you’ve obtained an approximate monthly payment for various mortgage sizes, you can more accurately figure the price ranges into your budget. Next, run the home price through a mortgage calculator at current interest rates and at a 30-year fixes mortgage. Let's run the numbers for a $200,000 loan for 30 years at a fixed rate.

Your credit score is based on the information in your credit reports, which come from the three aforementioned agencies.