Purchase a Home

Research the Property

According to Realtor Statistics, a buyer should see ten homes in approximately ten weeks before making the decision to purchase a property. It is important for an individual to determine the property value of the homes that interest him/her by comparing the prices of the same type of houses on the market in the area.

Mortgage Tips

Review the different types of mortgage loans available to you: fixed-rate mortgage loans (10 to 50 years), Federal Housing Administration (FHA) loans for first-time buyers (minimal down payment), Veterans Administration (VA) loans for those who served in the U.S. military, and Interest-Only mortgage loans, which give you the option to pay only interest for a period of time.

Facts:

(a) You must provide the bank with income.

(b) The mortgage amount you wish to borrow

(c) Down payment on the loan

(d) Debt information such as credit cards, car, student and personal loans

(e) Expense versus earnings. (Professor's House)

Calculate Mortgage Payment

There are many components that go into mortgage payments; missing one component may be very detrimental to a person affording a mortgage. According to Rosenthal (2010), it is important for the buyer to know: (a) how much mortgage he/she can afford? (b) What type of mortgage he/she should get? (c) What kind of loan payment schedule fits you best? See the link for some important tips to help you calculate your mortgage payments.

Home Insurance

It is challenging for home insurance buyers to get the right coverage for their homes. Statistics

Impressum

Verlag: BookRix GmbH & Co. KG

Tag der Veröffentlichung: 30.10.2011
ISBN: 978-3-7368-3802-4

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Widmung:
To my loving husband and friend Arlington Agard To my loving and wonderful deceased mother, Gladys Walrond and brother, Wayde Walrond