Posted by NewBuyer on December 16, 2009 | No Comments
A essential warning to help first time home buyers avoid taking on a mortgage that they cannot afford. The resource emphasizes that mortgage lenders can only tell you how much they can lend you, not how much you can afford. Additionally, help is offered on how to create a buying budget and how to effectively use a mortgage calculator.
From the resource: “‘We figured we could afford the payments since the lender approved us for that amount. Turns out we were wrong.’ I can’t tell you how common this statement is. It happens all the time, and it’s one of the most common scenarios that lead to home foreclosure.”
Source: Arming your Farming
Read More About Home Affordability at Newbuyer.com
Posted by NewBuyer on December 13, 2009 | No Comments
A condensed resource subtitled “The Lost Art of Give and Take, or How to Negotiate Successfully!” which includes a checklist of the top ten tips on negotiating home prices successfully. The compilation includes key points such as “knowledge is power”, “silence is golden” and “everyone wins.”
An example from the resource: “Never major in minors. Never let negotiations stall out a transaction over a minor point (i.e. furniture or appliances). If you can’t agree, put the point aside and come back to it later. Concentrate on getting agreement on major points like price and terms. Don’t lose the sale because of a TV set!”
Source: Wright Realty
Read More About Negotiating the Purchase of a Home at Newbuyer.com
Posted by NewBuyer on December 11, 2009 | No Comments
An easy-to-use tool to view the available mortgage rates in your local area and those available online. Seven steps, each on their own page gather information such as the purpose of your home loan (purchase or refinance), amount of home loan, type of loan and loan term. The resulting comparison chart presents the lender name, interest rate, APR, fees, points, estimated payment and more.
Source: Interest.com
Read More About Current Mortgage Rates at Newbuyer.com
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