Hey guys I know there have been a lot of questions about buying a house, there are a couple of interesting articles that I came across recently. One is from Reuters and one is from MSN money.
There are a lot of good tips in this one:
http://features.us.reuters.com/personalfinance/news/N19600119.html
-Take your time
-Check your credit score
-Prequalify for a mortgage
-Check out mortgages backed by the Federal Housing Authority
-Work with a buyer’s agent who only represents you, not the seller
-Get something back from the seller, but don’t expect a complete steal
-Think single-family house or duplex
-Don’t buy a home without getting a home inspection
-Don’t overreach
The other articles gets rather creative but still good.
http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/7CreativeWaysToBuyYourFirstHouse.aspx
Let me know what you guys think
March 24th, 2008 at 6:15 pm
Great article. I am saving up for a house slowly. Maybe sooner rather than later I should be looking into it more seriously. I know the time now is a better time to buy for a first time home buyer but us not so fortunate need a massive down payment.
The type of down payment the mortgage companies are looking for are upwards of 80k. I am not even close.
What can a guy like me do? Buy a house with a friend? Save up half and split it? That seems a lot easier to do.