DON'T BUY A HOUSE!! (Till you do these first 6 things.)

Getting into your first house is a scary deal for most of us. Terms we don’t understand, contracts written in legalese that we can’t figure out...and let’s not even talk about financing guidelines. Some people won’t buy a home just out of the fear of the unknown.

For most people buying a home is the largest financial purchase they will make. If it is your first time is sure to take advantage of all the program information and home buying programs you can.

Be sure to prepare yourself before buying. Here are six steps to follow before buying:

1) For most people, home ownership is an integral part of the American dream and the advantages (tax benefits, sense of home, financial investment) far outweigh any drawbacks. Think about what it will be like to be a homeowner.

2) Know your credit score from the start. If you have any bad credit issues, and we all do, be prepared to explain them. If your credit score is really low then you may want to use a credit repair company.

3) Understand exactly what your finances are. For most homebuyers the two most feared words are: DOWN PAYMENT. Today, there are so many different types of loans available that this shouldn’t be as much a worry as it was, say ten years ago. A good loan officer or mortgage broker should be able to walk you through the process and steer you clear of the programs to avoid.

4) Get pre-approved...NOT pre-qualified. Here is the difference. Pre-approval means you have already given a broker or your bank all the information they want in order to actually run your credit and finances in order to see what loan you can get and how much you can actually spend on a home. Pre-qualified means someone looked at your credit application and THINKS they can get you a loan.

5) While meeting with your mortgage broker or banker, have them look into any down payment assistance programs that may be available. There are many programs out there run by counties and cities and other agencies. The trick is to know about them, first, and then to see if you qualify for them.

6) First-time home buyer classes. Many lenders and Realtors offer home buyer education classes. They are usually a few hours long and will educate you through the process of buying a home. From applying for a loan, working with a Realtor, making an offer, going to escrow (closing), and various other responsibilities associated with owning your own home.

These six steps will help you on your path to owning a home. Just remember to ask LOTS of questions. Talk to friends and family who are home owners and see who they trust. Buying a home doesn’t have to be scary as long as you understand what you’re getting into.

About the author:
Getting into your first house is a scary deal for most of us. Terms we don’t understand, contracts written in legalese that we can’t figure out...and let’s not even talk about financing guidelines. Some people won’t buy a home just out of the fear of the unknown.

For most people buying a home is the largest financial purchase they will make. If it is your first time is sure to take advantage of all the program information and home buying programs you can.

Be sure to prepare yourself before buying. Here are six steps to follow before buying:

1) For most people, home ownership is an integral part of the American dream and the advantages (tax benefits, sense of home, financial investment) far outweigh any drawbacks. Think about what it will be like to be a homeowner.

2) Know your credit score from the start. If you have any bad credit issues, and we all do, be prepared to explain them. If your credit score is really low then you may want to use a credit repair company.

3) Understand exactly what your finances are. For most homebuyers the two most feared words are: DOWN PAYMENT. Today, there are so many different types of loans available that this shouldn’t be as much a worry as it was, say ten years ago. A good loan officer or mortgage broker should be able to walk you through the process and steer you clear of the programs to avoid.

4) Get pre-approved...NOT pre-qualified. Here is the difference. Pre-approval means you have already given a broker or your bank all the information they want in order to actually run your credit and finances in order to see what loan you can get and how much you can actually spend on a home. Pre-qualified means someone looked at your credit application and THINKS they can get you a loan.

5) While meeting with your mortgage broker or banker, have them look into any down payment assistance programs that may be available. There are many programs out there run by counties and cities and other agencies. The trick is to know about them, first, and then to see if you qualify for them.

6) First-time home buyer classes. Many lenders and Realtors offer home buyer education classes. They are usually a few hours long and will educate you through the process of buying a home. From applying for a loan, working with a Realtor, making an offer, going to escrow (closing), and various other responsibilities associated with owning your own home.

These six steps will help you on your path to owning a home. Just remember to ask LOTS of questions. Talk to friends and family who are home owners and see who they trust. Buying a home doesn’t have to be scary as long as you understand what you’re getting into.

About the author:
Doc Schmyz has invested in Real estate all over the U.S.. His website gives hundreds of investors up to date real estate investing information Get more info from across the U.S. on Doc's real estate investing resources