we're getting ready to buy our first house. any pointers i haven't heard yet?

Answer 1

Check out what big brother says:
The HUD-1 closing costs form explained: http://www.alta.org/consumer/hud1.cfm
HUD Private Mortgage Insurance (PMI) Information: http://www.hud.gov/offices/hsg/sfh/res/respapmi.cfm
HUD Sample of Good Faith Estimate: http://www.hud.gov/offices/hsg/sfh/res/resappc.cfm
HUD Revised Borrower’s Closing costs guidelines*: http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=06-$[no]&op1=AND&SECT1=TXTHLB&SECT5=MLET&u=./hudclips.cgi&p=1&r=23&f=G
EPA’s Required Lead Disclosure from Sellers and brokers:
http://www.epa.gov/lead/pubs/leadbase.htm
EPA: Finding out about your local drinking water quality: http://www.epa.gov/safewater/dwinfo/index.html
Federal Reserve, pamphlet on acquiring the best mortgage: http://www.federalreserve.gov/pubs/mortgage/mortb_1.htm
US GOVERNMENT CONSUMER TIPS ON HOMES: http://www.consumer.gov/yourhome.htm
FBI Sex offender web sites for all states: http://www.fbi.gov/hq/cid/cac/states.htm
FTC: High Rate – High Fee Loans (know your rights): http://www.ftc.gov/bcp/conline/pubs/homes/32mortgs.htm
Real Estate Settlement Procedures Act (RESPA) [about closing costs & settlement procedures]: http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm
That should give you something to read about. I have more but got to finish this paper work over here at the office so, happy reading.
Buena Suerte

Answer 2

Here are some real tips bankers will not tell you. Do these and you will have the house 5 yrs from now. Don't and you will not.
Pay Cash.
Pay 21% down.
Buy a fixed rate 15 yrs no prepayment penalty no points no other fees mortgage.
The mortgage payment (principal& interest) needs to equal one week take home pay.
If you don't get these then buy a smaller house . Can you say bubble.
Do not get any variable rates, no 20% loans
you lose the bankers win.
visit DaveRamsey.com to learn what you need to know.
Pay for any thing that goes into the house with cash only. Don't get any car loans (drive p.o.s.)
till after 5th yr.
Be willing to walk away from any deal that doesn't feel right.

Answer 3

I found this report online that give tips to 1st time home buyers. I would also make sure you check with a lender that does FHA Loans, Rural Housing Development Loans, and some states have loans also. Some programs require money down and others don't. There are also some non profit orginazations that place down payments for you.

Check out this report
http://www.freelansingrealestatetips.com/buyer_secrets.aspx

Answer 4

It sometimes seems like the government is concerned about the possibility of trouble in the near future. Not only have they been purchasing millions of rounds of ammunition, but have also purchased lots of additional small arms weapons, and are ordering thousands of silhouette 3D targets that depict women, pregnant women and teenagers. These types of targets are meant to "desensitize" the police authorities if in the future they would happen to get into situations where women and teenagers may be considered the enemy. I pray nothing like this never happens, but it's scary to think someone in the government believes it could be a possibility!

Answer 5

Find an Agent who is an ABR Accredited Buyer Representative. They are specifically interested in representing Buyers and will be your best souce of information. DO NOT listen to friends and relatives. They mean well but don't know what the business entails. Stay with ONE agent for loyality and continuity.
Best wishes and good luck.

Answer 6

First, make sure you know what you want. Plan for children if you plan to have any. Find a great school district. Find out about the weather in the area to plan for an attic, basement, or both. Finally pick something out that is within your budget limit.

Answer 7

First off have alot of money for when you first move in you will spend1000, to 5000 dolllars on things you never thought of for stuff like curtains a shelf here or there and it will add up quick

Answer 8

Make sure alterations have a permit. Most costly repairs are roof and plumbing, inspect carefully. Peruse the neighborhood in the evening and weekdays.

Answer 9

Make sure you have a reliable and independent inspector, don't buy on a major street, buy close to a good school and try to get the worst house on your block,

Answer 10

Talk with potential neighbors and ask them what they think of the neighborhood and the other neighbors. Are the people friendly, any crime close by how is traffic, what are the schools like