How To Buy a Home

Expand the description and view the text of the steps for this how-to video. Check out Howcast for other do-it-yourself videos from crazyp3t3 and more videos in the Home Finance category. You can contribute too! Create your own DIY guide at www.howcast.com or produce your own Howcast spots with the Howcast Filmmakers Program at www.howcast.com Looking at homes is the fun part. But before you go house hunting, make sure you have your financial ducks in a row. To complete this How-To you will need: A familiarity with your finances Time Step 1: Know your rights Buying a home can be a complicated legal process, so begin by familiarizing yourself with your legal rights. The government’s Housing and Urban Development department, also known as HUD, has much of this information available on its website, www.hud.gov. Step 2: Shop for a mortgage Shop for a mortgage before you shop for your home. Talk to a variety of lenders to find the best rates and terms. Many will pre-approve you for a certain amount, so you’ll know exactly how much you can offer on a house. Tip: Many buyers are approved for more financing than they need, so look at homes you can truly afford, not ones you technically can buy based on your pre-approved mortgage. Step 3: Set a price Figure out how much you can afford based on your income and monthly expenses. Don’t forget to factor in things like property taxes, homeowners’ insurance, any improvements you might have to make on the home, and utility costs you may
First Time Home Buyer Programs

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First Time Home Buyer Programs
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