If I was looking to buy a home in the next couple of years in iowa for $100,000 to $150,000 what do I need to know before I start looking. What would be a good interest rate on a 30 year mortgage right now with excellent credit? How much should I expect to pay for property taxes, home owner insurance, etc. any other advice would be appreciated. i know these rates will change but looking for general answers.
2006-07-05 07:55:23 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
http://www.Homefair.com is a great place to start. Here are some other site that might help you. Good luck. :)
http://www.sdar.com/news/firsttimebuyer.htm
http://www.ourfamilyplace.com/homebuyer
http://www.hud.gov/buying/index.cfm
2006-07-05 08:00:19 · answer #1 · answered by kcsilverlining77 4 · 0⤊ 0⤋
I hate to be sooooo brutally honest....but the answers to the questions that you have asked are not answered easily, The information that you are asking for is very hard to give. If you are looking to buy in the next 2 to 3 years, you are going to look at interest rates in the 7% range and above. That is of course depending on what part of the country you live.
There is no way to "know" what rates are going to do in the next few years. Although, if the conditions stay the same as they are today, then they are going to be higher. Although, we never know what could happen in that time-frame.
As far as property taxes, it all depends on the property that you decide to purchase. Your county Auditor would more than likely have this information readily available on line for anyone who wants to see it.
You will want to budget about $25 to $50 dollars a month for home owners ins. Of course, this will be set by the insurance company.
If you would like some more advice on bu ying your first home, then feel free to contact me at timothy,kazee@americanhm. com and I would be more than happy to talk to you about your options.
2006-07-05 18:28:43 · answer #2 · answered by Kaz 3 · 0⤊ 0⤋
There's a long list of FAQs that might be useful to you on HUD Web site:
http://www.hud.gov/buying/comq.cfm
Also, depending on the state, check all programs you'd qualify for as a first time home buyer.
2006-07-05 07:59:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
your best resource is a realtor! find one that you like, and work with them. they can guide you in the right directions, let you know what the market looks like, what it's projected to look like in the future, etc.
2006-07-05 09:34:47 · answer #4 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
Talk to a broker in your area, its free. If you are in NY come talk to me.
2006-07-05 08:03:45 · answer #5 · answered by ouzii o 1 · 0⤊ 0⤋