Posted by NewBuyer on December 4, 2009 | No Comments
A eye-opening look at the pros and cons of buying a foreclosed home. By asking yourself three questions presented by the resource, you will get a better idea if you, personally should by a foreclosed home. If you decide it is right for you, read on to see “the risks associated with buying a foreclosed home at each stage of the foreclosure process.”
Source: Nolo
Read More About Buying a Foreclosure at Newbuyer.com
Posted by NewBuyer on December 4, 2009 | No Comments
A concise, yet insightful look at determining how much mortgage you can afford. Learn that how much you can afford and how much the lender is willing to lend are calculated separately. See how the lender uses the information you provide to calculate your loan amount and interest rate (i.e. income, debts, credit score, down payment, etc.). Budget carefully and remember the additional costs of home ownership such as taxes, insurance, maintenance, and more.
The introduction to the resource: “How much you can borrow to buy a home is a factor of how big of a monthly payment you can afford. Your monthly payment is made up of the amount you are borrowing and the interest the lender charges you.”
Source: GetSmart
Read More About Mortgage Affordability at Newbuyer.com
Posted by NewBuyer on December 4, 2009 | No Comments
A high quality look at the definitions of a down payment, closing costs and private mortgage insurance in reference to the home closing process. Learn that a down payment for a home can be between 3% and 20%. The resource will help you decide how much of a down payment works for you. See what factors make up closing costs and whether you will need to purchase private mortgage insurance.
Source: Freddie Mac
Read More About Closing on a Home at Newbuyer.com
