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Knowledge is Your Power For The Freedom of a Worry- Free Home!

Under the 1974 Real Estate Settlement Procedures Act, your lender is required, in most cases, within three days of receiven your application, they should either mail or give ya a Truth in Lending statement. This will disclose your annual percentage rate of the loan.

In many cases the APR will be higher than the interest rate that was stated in the mortgage or the deed of trust note. Because you see the APR will include all fees and costs that are associated with maken the loan. In addition to the interest and fees, other credit costs will be calculated into the total cost of your loan. The Truth in Lending statement will also disclose other pieces of very useful information, as the finance charge, schedule of your payments, late payment charges, and if additional charges will be assessed if you pay off the balance of your loan before it's due. This is known as the prepayment penalty.

Copyright 1994-2008 All Rights Reserved

I hope you and your family always have a fun and safe day!

This posting and the contents that are written here are the intellectual property of Baker Home Inspection and Consulting. All views and opinions expressed here by Baker Home Inspection and Consulting, and those that are kind enough to leave a comment, after reading are just that

When buying a home in Sullivan County, New Hampshire, Windsor County, Vermont, or nearby Countys. Call Baker Home Inspection and Consulting, for your Home Inspection.

Knowledge is Your Power For The Freedom of a Worry Free Home!

So you are preparing to make the decision to buy a home

Your decision of buying a home is going to be one of the most important – and very exciting decisions, you and your family will ever face. When making the actual decision and starting the very process may feel very overwhelming to you as a First Time Home Buyer because of all the emotional reactions and the financial consequences of buying a home.

Now before you rush out to start looking for the home that’s just right for you and your family, be sure to take a little time to evaluate your motives for buying a home honestly. Does buying your first home at this time really fit your personal situation, or are you wanting to keep up with your friends that are buying or have bought a home?

Remember the home you buy, you’re going to want to live comfortably, raise children and plan for your future. Owning a home is a real responsibility. If you’re not sure you are really comfortable with taking on the financial part or the time commitment that it takes owning your own home. It may be better for you to wait. Now there are of course, some advantages to owning your own home, they can include potential tax breaks, building up equity and of course the pride you feel owning your own home. These should not necessarily be your primary reasons for buying a home. Be sure to take some time to assess your needs of a home and your lifestyle before going out to buy that home, and the assumption that everyone should own their own home.

Link to First Time Home Buyers Avoiding Mistakes Part 1 of 7

Copyright 1994-2008 All Rights Reserved

I hope you and your family always have a fun and safe day!

This posting and the contents that are written here are the intellectual property of Baker Home Inspection and Consulting. All views and opinions expressed here by Baker Home Inspection and Consulting, and those that are kind enough to leave a comment, after reading are just that.

Baker Home Inspection and Consulting Blog is part of the Active Rain Real Estate Network, which is a social community network made up mostly of Professionals in the Real Estate Industry.

When buying a home in Sullivan County, New Hampshire, Windsor County, Vermont, or nearby Countys. Call or E-Mail Baker Home Inspection and Consulting for your Home Inspection.

Knowledge is Your Power For The Freedom of a Worry- Free Home!

If you and your family have decided that you are ready to think about buying a home, then you need to gather a lot more information of buying a home. Most of your final decisions will be based on just how well – or poorly, you really prepared to make the purchase of a home. Here are some steps that can help you focus on what you’re wanting to do.

You are going to want, to analyze your family’s current income and budget.

Your finances will always dictate what kind of home you can buy. If you have not been using a personal budget, then now is really the time to start using one. Start out by, asking yourself these questions.

· Just how much do we currently spend on our housing, utilities, and maintenance?

· What other living expenses do we have.

· What kind of expenses do we anticipate in the near future? An example, Will we need to replace our car soon?

· Do we have a personal savings plan in placed?

Link to First Time Home Buyers Avoiding Mistakes Part 1 of 7

Copyright 1994-2008 All Rights Reserved

I hope you and your family always have a fun and safe day!

This posting and the contents that are written here are the intellectual property of Baker Home Inspection and Consulting. All views and opinions expressed here by Baker Home Inspection and Consulting, and those that are kind enough to leave a comment, after reading are just that.

Baker Home Inspection and Consulting Blog, is part of the Active Rain Real Estate Network, which is a social community network made up mostly of Professionals in the Real Estate Industry.

When buying a home in Sullivan County, New Hampshire, Windsor County, Vermont, or nearby Countys. Call or E-Mail Baker Home Inspection and Consulting for your Home Inspection.

Knowledge is Your Power For The Freedom of a Worry- Free Home!

Do not skip the mortgage preapproval process

The mortgage preapproval today is a lot more than just a fact-finding investigaten. A preapproval and a prequalification is a very necessary part of your home buying process. They don't only help you to avoid buying a lot more home than you really can afford, they also help you when it comes time to make a offer on a home. They add strngth to your offer for that new home, you and your family like.

Copyright 1994-2008 All Rights Reserved

I hope you and your family always have a fun and safe day!

This posting and the contents that are written here are the intellectual property of Baker Home Inspection and Consulting. All views and opinions expressed here by Baker Home Inspection and Consulting, and those that are kind enough to leave a comment, after reading are just that.

Baker Home Inspection and Consulting Blog is part of the Active Rain Real Estate Network, which is a social community network made up mostly of Professionals in the Real Estate Industry.

Link to Part 3

Link to Part 4

Link to Part 5

Link to Part 6

Link to Part 6 A

Link to Part 7

When buying a home in Sullivan County, New Hampshire, or Windsor County, Vermont, or nearby Countys. Call or E-Mail Baker Home Inspection and Consulting for your Home Inspection.

Knowledge is Your Power For The Freedom of a Worry- Free Home!

Be sure you are woking with a Real Estate Agent that represents you and your family.

Make certain that the Agent you have decided to work with is really going to represent you and not the Home Seller. Really look in to exactly what the Agent does for Home Buyers and where the Agent's loyalty really lies. A listing Agent owes their allegiance to the Seller, and if you go off and contact that Agent, you cannot expect, or even get impartial representation of your interests in buying a home. Do not even think about representing yourself, you really lack the leverage to negotiate a favorable deal. Plus you are not going to have the advantage of an Agent's analysis of the market in your area a the realistic selling price of homes in the area.

It's really best to use a Exclusive Buyer's Agent, to work for you and your family!

Copyright 1994-2008 All Rights Reserved

I hope you and your family always have a fun and safe day!

This posting and the contents that are written here are the intellectual property of Baker Home Inspection and Consulting. All views and opinions expressed here by Baker Home Inspection and Consulting, and those that are kind enough to leave a comment after reading are just that.

Baker Home Inspection and Consulting Blog, is a part of the Active Rain Real Estate Network, which is a social community network made up mostly of Professionals in the Real Estate Industry.