Thinking about purchasing my first home any suggestions?
953478
work with a realtor and they will find you the deal...but first, get pre=approved for a loan so you will know how much you can afford.  remember that 28% of your salary is all you can get financed for (in most cases)  chekc out american dream, they make down payment loans to 1stt time buyers
687105
I found there is a great free report at:\nhttp://www.first-time-homebuyers-loans.com\nthat is really helpful.\n\nIt will point you in th right direction.  From there you will know what questions to ask and what to look for.\n\nHope that helps,\n\nGreg S.
475753
My husband and I were faced with the question to build our first home, or just buy.  After talking with plenty of friends who have or are building their home, and doing some research on it - we decided to buy a brand new home instead.  \n\nThe biggest complaints I heard was getting all those permits... water,  sewer, utilities, building... the list goes on.  (Where I live - which is cheap compared to most places, each permit is no less than 500$)\n\nI don't want to discourage you though... perhaps you have a bit more patience than us!  I would just do all the research you can do for the area you live in.  Ask around.
856386
Heres is some advice! If you are looking to purchase a home, first get pre-qualified. If you log onto http://www.justgetaloan.net we can get a you a fast free pre-qualification with access to great service,programs and low rates. Getting pre-qualified will let you know how much you can afford. Also when dealing with a realtor the realtor will work harder for you knowing that they have a real client. Many people want to buy homes, those who have the ability are the ones realtors work for. Also it will give you buying power. I.E. Seller is selling home for 200k you have been pre-approved for a mortgage up to 190k the seller is more likely to come down on the price becuase you have been qualified for the mortgage. Its like your walking around with a blank check. Feel free to log onto the site http://www.justgetaloan.net also you can contact me at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net
504969
You should search yahoo answer first.  Similiar questions have been asked before.\n\n- Get pre-approval from a lender\n- Get a realistic estimate of the house you like to buy\n- find a realtor
1082974
My husband and I were truly blessed we we bought our home. There is a program called Ameridream and if you are a first time homebuyer or a minority, the government will cover your downpayment. No gimmicks or paypacks. It was awesome. We saved 5k on the downpayment. We got an interest rate of like 6% and if we did a 80/20 the rate would have been 7.5%.
913295
Easy, as much as you can afford!, \n\nAt the minimum I would suggest no less than 25% but the more you put on, the less interest you will pay in the long run and you will be mortgage free years ahead of schedule!\n\nWhen we brought our first house we put every cent of savings we had on to the deposit (dont be fooled going for the minimum payment, it adds thousands to the interest!)\nwe also went for the shorter term (25 years instead of 30) to help force us to pay it off quicker (you can always re-mortgage if you get in the poo).\nAnd then we proceeded to put 50% of our income on it for the first 3 years, we have now lowered our payments as we are traveling and renting the house out, but once we return we will put the payments back up.
364240
Owning a house is the best from an investment standpoint. Condos are pretty good too although the market is different. They don't increase in value as much, you have to pay an extra monthly fee but you don't have to worry about taking care of the outside. Renting is money out the window but you may want to consider it first so that you can really take your time and look over the housing market in the area you will be going.
400321
I rent at the moment (about £1600/month), and I'm going to be buying next year.\n\nIt's the best way to go to be honest.
385411
the government offers some help with down payments for first time buyers. there may be some criteria though. may be worth checking into.
11986
Be careful buying right now unless you are planning to live in the house for more than 8 years.  Interest rates are going up and there are estimates out showing a slowdown and even a reverse in housing prices for the next two years.  If you do buy, go with a fixed rate mortgage.
335914
You might double ya money. And get a Living Room and Bedroom Set. You only live once! Do ya thing! Pray first though!
150905
My best advice would be to start by opening a new credit line.  Paying your bills on time and saving as much as you can.  Credit can be a bummer when it comes to buying a home.  Good luck!
137388
I just did this recently! I will be first to tell you it is not as scary/stressful or hard as some will tell you.\nFirst find a mortgage broker. If you can find one like our guy, you're good. You give him your info, (name, social security number etc.) We told the broker that we wanted to know EXACTLY how much money we would be approved for prior to looking for a house.That way we weren't looking at stuff we couldn't afford.\nHe called us and gave us our amount and told us to go find a house.he also suggested a real estate agent, which we made an appointment with.\nMeanwhile we looked online and got those real estate books you see everywhere. We found a house on our own prior to even meeting the agent and when we went to see her it wasn't one of hr houses but she called the agent that did have it listed and we went and looked at it.Said we wanted it, and then the agent and the broker did the rest of the work and all we had to do was keep checking with them , calling them to see what the next step was.Most agents/brokers know you are a first time buyer and will help you along in the process, they know how hard things can be. Although , the hardest part is actually finding a house you want. If you have a spouse, you'd be amazed at what you 2 will argue about.(my husband got all annoyed with me when I said I wanted something that was already wallpapered- and he wanted painted walls because wall paper peels-whatever- that's just how stupid it can get)\n1 month later we bought it and moved in for around 400 dollars.We don't have the greatest credit in the world either. To break down house hunting here you go:\nLook within your price range.\nget a real estate agent who will ask for the world. You want the seller to pay closing costs. \nIf it's you by yourself buying, or with someone else, then sit down and decide EXACTLY what you NEED in a house.What you want, and what you can live with/without. This will be your home for a while you are going to want to have certain things when you are paying that kind of money out.\n\nMy husband could not live without a garage.I wanted a 2 story, and we both knew we did not want to live in a subdivision. Not only did the house we pick have a 2 car garage in the front of the house, it had a 2 car outbuilding/garage in the back, a hot tub, and a playhouse in the backyard that looks exactly like the real house.\n When I say get an agent who will ask for the world, I mean just that. This house did not come with the playhouse,and they wanted a certain amount for it, we offered about 20,000 less than what they wanted, and told them we wanted the playhouse, and we also wanted them to leave the fridge, stove, dishwasher, and an upstairs airconditioning unit, not to mention we wanted them to pay all of the closing costs. of course they said "no" but they didn't just say no flat out, they said "we want what we asked for the house, but we will let you keep all the things you asked for, plus the playhouse and we will pay 80% of the closing costs." We tacked the rest of the closing costs onto the mortgage and we were good to go.\n\nI know you probably don't live in my area, and I am not sure how the schemantics of it work, but if you are interested in knowing the name of our broker, he'd be happy to contact you.He asked us to put his name out there and he is relatively new, so he is anxious to please. Of course I'm not giving you his name on here but if you are interested drop me a note, by editing your question and saying you are interested in who he is.\n\nItried to email you but no luck, email me if you get a chance, and I will give you that.
571780
Try looking at the classifieds for houses for sale that you like. Once you have selected ask the seller if he's willing to do a lease with an option to buy.
316339
If you can afford it, and it will get you into your own home, then yes.  100% financing is quite popular nowadays for people who don't have a large down payment available.  Go for it, it's an investment on your future!
189267
I would suggest 20% of the selling price. You must also think about the extra fees, such as taxes, title insurance, lending fees, closing cost, etc. that will add up quickly, and is usually expected out-of-pocket at the time of purchase. \n\nIf you are a first time homebuyer there are programs out there that will deviate some of those fees, but then if you don't have 20% down you will have to pay mortgage insurance, and from asking around I've noticed it's an average of $100 on top of your monthly mortgage. \n\nHope this helps, I am a first time homebuyer and have been investigating this a lot!!! Good luck!!