Posted by Elizabeth Dennis on January 5, 2010 | No Comments
A concise, yet helpful look at how to answer the question: “how much house can you afford?” View a quick checklist of important questions to answer before committing to buying a home.
From the resource: “I strongly suggest you save a down payment of 20% or more, choose a 15-year (or less) fixed-rate mortgage, and limit your monthly payment to 25% or less of your monthly take-home pay.”
Source: CBN
Read more about how much house you can afford at Newbuyer.com.
Posted by NewBuyer on December 18, 2009 | No Comments
Ten questions to help evaluate if you are ready for homeownership. You will first look at your current situation, i.e. your income, employment, debt and savings. You will then evaluate your future plans with regards to lifestyle, a growing family, wedding costs and college education.
From the resource: “Buying a home is the largest purchase most people will ever make. Homeownership has great benefits. Homeownership also comes with certain responsibilities.”
Source: Freddie Mac
Read More About Home Buying at Newbuyer.com
Posted by Elizabeth Dennis on December 8, 2009 | No Comments
A useful look at how to prepare for the purchase of a home. Â Learn the importance of not borrowing more money in terms of new credit cards or loans (such as a new auto loan) as you prepare for a mortgage. Â Limit major changes in terms of moving money around, changing jobs, etc. Â See how to correctly estimate your monthly payment and budget for your mortgage.
From the resource: “Your home will likely be the single largest debt you will take on and represents the greatest risk in the eyes of potential lenders. With lending rules tightening, it’s becoming more and more important that you make yourself look as safe as possible. Safe means as little debt as possible and as little access to credit as possible.”
A useful guide to preparing for buying a home loan. Â Learn the importance of not borrowing more money in terms of new credit cards or loans (such as a new auto loan) as you prepare for a mortgage. Â Limit major changes in terms of moving money around, changing jobs, etc. Â See how to correctly estimate your monthly payment and budget for your mortgage.
From the resource: “Your home will likely be the single largest debt you will take on and represents the greatest risk in the eyes of potential lenders. With lending rules tightening, it’s becoming more and more important that you make yourself look as safe as possible. Safe means as little debt as possible and as little access to credit as possible.”
Source: Get Rich Slowly
Read more home buying tips on Newbuyer.com.
