Tools and Calculators
Buying a Home
Owning a home is the American dream. When you buy a home, you build ties to a community and create a place you can call your own. Are you ready to become a homeowner?
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Ask yourself these nine questions!
Do I have a good credit history?
Do I have a stable income and employment history?
Can I afford to make regular, timely payments on my mortgage, in addition to my other monthly expenses (such as utilities) and any debts that I have?
Can I afford to pay taxes, insurance, and other costs associated with owning a home?
Do I have money available for a down payment?
Do I have money available for closing costs?
Will I live in the house long enough to build equity if the house maintains or increases its value?
Will I have the time and money to maintain the property?
Do I have enough money saved to cover any unexpected expenses or repairs?
Other considerations may include public transportation options, safety issues and other services available such as schools, stores and community programs
How do I choose a lender?
If you’re not able to completely pay for your home in cash, it’s likely that you’ll need to work with a mortgage lender to finance your home.
Five ways to find a mortgage lender who’s right for you:
Talk with your real estate agent, or, if you’re building a new home, talk to your builder
Read your local newspaper. Many papers include information on current interest rates, mortgages and lenders
Shop around by making some phone calls or using the Internet. Consider contacting several financial institutions and comparing their interest rates and mortgage terms
Ask your friends, relatives or other people you trust
Find out about the professionals and companies that you want to work with. You can find information about them on the Web and at places such as the Better Business Bureau
To get a quick, free quote, visit Nationwide Advantage Mortgage.
