2007-01-26 08:22:00 · 7 answers · asked by ladrona 2 in Business & Finance ➔ Renting & Real Estate
Please visit the website above and read the info on buying a home.
www.hud.gov
www.realtor.org
These sites are the governments attempt to help you understand what to do and with whom to do it when you want to buy a home.
Consider FHA financing for the first time, you have less down required, easier qualification and lots of gov. protection.
Best of luck
2007-01-26 09:07:37 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Its not that hard. I recently bought a home but not through a real estate but from the owner of the home. I asked for a loan. I got an appraisal done on the home. My home was worth a little more than what they were asking so that was good. The only bad thing is that you should be prepared to put down some money. My bank only lent me 90% and so i had to come up with the other 10%, this was not including what the paperwork cost. But its worth it to know that you are investing your money in your own home instead of waisting your money on the rent.
2007-01-26 16:37:42 · answer #2 · answered by Luci 2 · 0⤊ 0⤋
You've gotten some great advice. The HUD web site is awesome. Imagine that - a government agency did a stellar job! But keep in mind, it's easy to buy a home. The hard part is keeping and maintaining the home. Let me suggest homebuyer education, which will go over the costs and responsibilities associated with owning a home.
Ask you lender to recommend a course. Most are short telephone sessions. Or look at www.Fanniemae.com, www.FreddieMac.com, or www.namb.org for information about homebuyer education.
Good luck!
2007-01-26 17:38:37 · answer #3 · answered by CJKatl 4 · 0⤊ 0⤋
I recently bought a home for the first time. It wasn't very hard at all. I didn't have a real estate agent, and the seller didn't either, but my mortgage person was a friend of mine and was really helpful. Also, my parents were able to give me advice too. It was much much easier than I thought it would be.
2007-01-26 16:35:11 · answer #4 · answered by agendagal 2 · 0⤊ 0⤋
I've been through it less than a year ago. I would say it's easier than it looks but it's longer than expected. You need to be aware of all the costs involved before jumping in. There are many good books out there to help you. Also, you need to select a neighbourhood (or a couple) where you'd like to live and need to find out what is the really value of the houses equivalent to the type you're looking for by looking at past sales.
2007-01-26 16:34:15 · answer #5 · answered by Seb 1 · 0⤊ 0⤋
If you have clean credit and a well paying job it is not that hard. If you call a mortgage broker you can be pre-approved for a mortgage so you know the price range you can look at before you start looking at houses. Sometimes you will need to have a co-signer who needs to be a related family memeber but they only need to be on title for a year and as long as you make your payments on time they can come off. So find a broker, find a price range and baby find a house
2007-01-26 16:31:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Not hard... you should check out a book from the library about home buying... you will learn a lot. Please keep in mind though that real estate agents do not make any money unless they sell something... so don't make them show you 4089324028340293 houses and then not buy anything.
2007-01-26 16:29:31 · answer #7 · answered by me :) 3 · 0⤊ 0⤋