Helpful tips before you get started.
Time to buy a home?
2020 is a fantastic time to buy
Buying your new home is a serious venture. It can be an absolute pleasure or a massive headache. Your house is not just your home, it is a serious investment in the dwelling, the area and your future.
When buying a home — you're bound to have many questions. For example, "In what area can I find a home that suits my needs?", "How much money will I need to afford the monthly payments?" and "How long will the home buying process take?
Below are some helpful articles and resources to get you started answering these questions and sending you on your way to being a new home owner.
What is a Mortgage?
Your purchase of a home will be among the largest, most important purchases you'll make in your life. There are few things which cost as much; and, few things which will affect your life as much, either. As a first-time home buyer, therefore, it's important to have a feel for how the home buying process works, and what you should expect from your mortgage. Your mortgage is the loan you will use to buy your home. Mortgages are similar to other loans in that there is some amount borrowed; a rate of interest paid to the lender; and, a pre-determined number of years over which the loan must be repaid. The key part of a mortgage that makes it different from other loan types is that a mortgage loan is specifically used for the purchase of real estate. Also, mortgages can be customized. There are a bevy of loan programs available for today's home buyers including low- and zero-downpayment loans; loans for buyers of condominiums; and, loans for members of the U.S. military, as examples. With the help of your mortgage lender, you'll build the loan that best fits your needs.