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Buy a House

"People are living longer than ever before, a phenomenon undoubtedly made necessary by the 30-year mortgage. " ~Doug Larson

Buying a House

Why houses are like babies

Buying a Home

Thinking about buying a home? HUD has information that can help! Got questions? Talk to one of their housing counselors!

1. Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate.

2. Know your rights

3. Shop for a loan

4. Learn about homebuying programs

5. Shop for a home

6. Make an offer

7. Get a home inspection

8. Shop for homeowners insurance

9. Sign papers
You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!

Shopping for Your Home


Shopping for Your Loan


Closing the Deal

Home Loan Tool Kit : This toolkit will help you make better choices along your path to owning a home.

When buying a house or refinancing you can as part of the purchase loan or refinance, you are able to borrow extra money for things that will lower your utility bill by making an ultra efficient house .. you can add a Fannie Mae loan product called home style mortgage that can be used to purchase solar panels, extra insulation, solar farm, water saving devices. The loan will be at the same percent as the mortgage or refinance. In addition you should be able to get rebates that can cover 30% of the cost.

Check out "Owning a Home" by consumer finance.gov : find tools with the goal of helping homebuyers and homeowners like you feel more confident, become more informed, and make smarter decisions about mortgages.

TIP: You will pay less if you look for a lower cost mortgage loans by using mortgage brokers, mortgage bankers, credit unions and small local banks instead of using big banks. If you need to refinance in addition to the above use online lenders like SoFi.com - The Bankless World Begins‎.

www.fanniemae.com helps low to middle income families buy homes.

Home Path.com makes it easy to buy homes that are foreclosed. It is a one stop shop where you can see the inventory available, make it easy to negotiate the purchase price and tie you with an easy to get mortgage with low down payment with no appraisal or need for PMI, no closing costs low cost home. 


Don't Borrow Trouble® is a national anti-predatory lending campaign that combines education and empowerment, teaching consumers to protect their homes and finances. It is an anti predatory lending site by Freddie Mac that has a lot of information on avoiding high priced loans. There are sites dedicated to each state and/main city.  To find the campaign near you Google the name don’t borrow trouble and the name of the state’s main city. For example: for Massachusetts looks for don’t borrow trouble Boston, or don’t borrow trouble Philadelphia, etc.


Hidden Housing Costs New Homeowners Don't Expect


You can save thousands by choosing a home that’s for sale by owner. A site to go to is www.forsalebyowner.com , www.fsbo.com or www.homesbyowner.com


Hire an agent that exclusively represents you when buying a house. An exclusive buyer’s agent will uncover builder-to-broker incentives that could be advantageous to you and save you time by sizing up the market especially if you are a first time buyer or new in the area. Contact the National Association of Exclusive Buyer Agents (www.naeba.org) for information and help in finding an agent.

Investigate the town you are planning on moving to make sure you are going to like the neighborhood. Check out the city at www.citytowninfo.com which has information about income levels, crime, sex offenders and more.

Log on to www.uhaul.com/boxexchange and the site will hook you up with new neighbors looking to unload their cardboard boxes instead of buying them if you are moving. You can also exchange moving supplies and rides.


The National Community Reinvestment Coalition is a nonprofit membership organization that helps underserved communities at www.ncrc.org

The Mortgage Bankers Association offers consumers information and links to resources. Go to www.homeloanlearningcenter.com and click on “Foreclosure prevention Resource Center” HomeLoanLearningCenter.com provides step-by-step information on how to become financially literate. Armed with the facts, your next move could be into your own home. Learn about credit reports and scores; the true cost of owning a home; and how to compare the costs of owning versus renting a home. The site provides in-depth, easy-to-read home loan product information, including information on how to qualify for a loan, what the documents mean and what's in a mortgage payment, along with mortgage calculators to help you plan your payments.

Home Loan Learning Center, powered by the Mortgage Bankers Association, is committed to empowering you to make informed financial decisions through access to financial education. We encourage consumers visiting this site to continue their financial education by taking advantage of the comprehensive links to reach state, federal, non-profit and consumer group web sites.



Do a side by side comparison of crime statistics, climate and cost of living of different cities at www.bestplaces.net

What do you know about the condition of the community you plan to live in?  Extend your home inspection to include a full environmental report of your area.  Get a pollution report card by visiting www.scorecard.org .  Search by zip code and within seconds receive a FREE, in depth pollution report covering air and water quality as well as toxic chemical levels in your neighborhood, 


The retirement living information center has also taxes by state guide that lets you compare income, property, sales, estate and other taxes by state at www.retirementliving.com

House moving caution by Consumer Reports

Visit www.Moving.org  for expert advice in making an informed decision on hiring a professional mover you can trust. 

TIP: videotape everything before moving. Get replacement value insurance to replace what comes missing or broken.