If you were to leave one piece of advice for a 1st time home buyer, what would it be?Answer Question
Answer by vbruno at 9:15 PM on Apr. 4, 2011
Answer by meooma at 9:17 PM on Apr. 4, 2011
Answer by dancinintherain at 9:19 PM on Apr. 4, 2011
Answer by ImaginationMama at 9:20 PM on Apr. 4, 2011
Answer by bethany49 at 9:48 PM on Apr. 4, 2011
Do your homework and read as much as you can before hand.
Answer by musicmom08 at 9:53 PM on Apr. 4, 2011
Get prequalified but crunch the numbers yourself. We kept our mortgage payment below 20 percent of take home pay. The bank will base what you can afford on your income before taxes and other deductions are taken out which could make thing difficult if you buy near the top of what they say you can afford. I would make sure to have at least 5k in savings 10k would be better for things that happen. Air conditioners break and stuff happens you will want funds available so you don't have to borrow more. I would also make sure to have all debt paid so you only have your basic bills and your mortgage will make it easier to save for retirement and pay your home off more quickly. We paid our mortgage bi weekly saved us 60k and a few years on our 15 year mortgage. Home Buying is a great thing if you do it right and buy within your actual means. Good luck.
Answer by Anonymous at 11:04 PM on Apr. 4, 2011
Answer by vjoaquin at 3:57 AM on Apr. 5, 2011
Answer by rkoloms at 5:50 AM on Apr. 5, 2011
Answer by LoveMyDog at 9:02 AM on Apr. 5, 2011