Debt Consolidation

Custom Search
 

Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
What Seniors Should
The Risky Gamble
Fixed Rate Mortgage
How to Obtain
Home Equity Loans
Bad Credit Home
High Risk Mortgage
Refinance After Bankruptcy
Fixed vs Adjustable
How to Get
Own Your Home
The Real First
Finding Home Loans
Home Mortgage Loans
Poor Credit Mortgage
2nd Mortgage Loan
Bad Credit Home
Buying a House
Home Equity Loans,
Mortgage Refinance and
Real Estate Mortgage
Comparing Home Equity
Online Mortgage Refinance
Debt-to-Income Ratio --
Mobile Home Mortgage
How do You
Mortgage Insurance
Interest Only Mortgage
Understanding Reverse Mortgage
Understanding Mortgage Interest
Mortgage Refinancing
Mortgage Quotes
Home Mortgage Makes
Down Payments -
Home Loan Basics
Sitemap
Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
 
First Time Mortgage Buyers
by Kristy Annely
Buying a home for yourself may be the fulfillment of a long cherished dream, but the entire process of buying can prove to be a confusing one if you are not sure of your priorities and the path to proceed. Get your steps right and chances are you

Buying a home for yourself may be the fulfillment of a long cherished dream, but the entire process of buying can prove to be a confusing one if you are not sure of your priorities and the path to proceed. Get your steps right and chances are youll be able to buy a home of your choice without paying extravagant rate of interest for the same. First and foremost, buying a house instead of renting one is in itself a feasible option. This is because the property you buy is your investment, which you can later convert to cash, if such a situation so arises. The first step up the ladder should be to go through the mortgage plans that are available in the market for buying a home.

Common loan programs include the thirty-year loan program, fifteen year fixed rate program and the adjustable rate loan program. Thirty Year Loan Program: - In this program, the borrowers payments are fixed. That means the person has to make 360 equal payments spread over a period of 30 years. This is the most popular of all home loan finance programs.

Fifteen Year Loan Program: - Like the thirty-year home loan program, this program too consists of monthly payments that are fixed. But in this case, the program involves 180 payments spread over a period of 15 years.

The Adjustable Rate Loan Program: - As the name suggests, the rate of interest on repayment is adjustable. The rate of interest in the beginning is low, but after a specific period the interest rate is changed periodically, governed by a preselected index.

It is not easy to decide which of these is the best possible option. While a lot will depend upon the amount of down payment you make and also your financial income, it is better to seek expert advice before arriving at any decision. You should get a feel of the prevalent home buying scenarios. Also, financial details can be mind-boggling. Apart from financial considerations, the agent could help you with relevant details such as the presence of schools in the neighborhood and traffic volume etc.

In addition to seeking expert advice, you should go through the various classified advertisements in the newspaper to get an idea of the price range in each area. Also, you will be saved the bother about driving around localities searching for a house that best fits your budget.

Also, keep in mind that you will require to make three different kinds of payments for buying a home. First is the earnest money, which is the money you pay to submit your offer. This is basically to ensure that you are serious about buying the property. The next is the down payment, which is percentage of the cost of the home. Then, there are the closing costs to cover the costs of processing and the paperwork involved.

Mortgage Buyers provides detailed information about mortgage buyers, first time mortgage buyer advice, first time mortgage buyers and more. Mortgage Buyers is affiliated with Home Equity Loans.

 
The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Bond County Penfield town Medina Midland borough Walworth village Thurston County Hurley Cadott village Balance of Dane County Green township Weston town Gilberton borough Merton town Algona Rice township Richland village North Wildwood Elsa Beaver Falls township Balance of Carroll County Gaston town Freeman Robesonia borough Stillwater borough Mapleton township Balance of Dwight township Waco town Bollinger County Morris village Grange township USA UK Australia Canada Vatican City Russia Tristan da Cunha Tokelau Finland Somaliland Zambia British Indian Ocean Territory U.S. Virgin Islands Nicaragua Devon Midlothian Yorkshire London Northamptonshire Pembrokeshire Cardiganshire Essex East Lothian Down Oregon (OR) Pennsylvania (PA) Indiana (IN) Virginia (VA) Indiana (IN) Wyoming (WY) Virgin Islands (VI) Northern Mariana Islands (MP) California (CA) Wyoming (WY) Hawaii (HI) Connecticut (CT) Virgin Islands (VI) Arkansas (AR) Oregon (OR) Maryland (MD) Virginia (VA) Arkansas (AR) Iowa (IA) Colorado (CO)