I'm 23 and want to take the first steps toward buying a home. Any advice as far as great websites, etc?

A really good website about mortgages, which is probably the next most important thing beside property location, is


http://www.mtgprofessor.com/


This professors website is full of accurate and good advice on pretty much every subject.





From my website here is my advice for First Time Home Buyers:





What First Time Home Buyers Need To Know


If you are interested in buying your first home, don't allow myths to dissuade you from trying. The truth is that with home prices increasing, it's a little more difficult for the first-time homeowner simply based on price. However, with so many options available, that doesn't mean you can't qualify for a mortgage loan. You just need to know what to plan for and what questions to ask.





Studies show that many potential homeowners believe they can't buy a house when in fact, there is strong possibility that they can. Close to 15% of people living in the United States state they would like to buy a home within the next few years but believe from a financial perspective, they won't be able to. Another 10% state they can afford a home but for other reasons, probably won't buy for a while.





Here are some myths:





In order to qualify for a house, you need 20% down - WRONG


Lenders are required by law to provide you with the best possible rate for your loan- WRONG


You can't qualify for a house if you've been with your current employer less than five years - WRONG


Your credit must be perfect - WRONG


Mortgage interest is not tax deductible - WRONG


The truth is these are just myths. Now for the truth:





More and more innovative mortgage packages are being created, offering the borrowers options between 3% and 5% down. Some buyers qualify for ZERO DOWN HOME LOANS. For first-time buyers, it's in your best interest to do some serious comparison-shopping.


Every lender works with its own rates bases on their standards as well as the type of loan being considered. Rates change literally every day AND are based on your Debt, Income, Credit %26amp; Equity (DICE).


Job stability is important but the five-year rule is merely a myth. For example, if you have worked in public relations or some other industry for 10 years but have had three jobs in that time, because you've stayed within the same business, lenders will often consider this as continuous employment, especially if you've made advancements. In most cases you can even switch fields entirely if you are getting more income and growth potential. In addition, solid credit and a larger down payment can compensate for work history in some instances.


It's true that credit is very important when qualifying for any loan. (You can close one day after completing a bankruptcy these days.) However, if you have been out of a bankruptcy for two years and can provide a good letter of explanation to the lender, they will usually accept that. Generally, this can be done in as little as 12 to 18 months.


As you make your comparisons of the financial benefits of renting versus owning, be sure to consider tax deductions. When you buy a home, the closing costs, mortgage interest, and points are all tax deductible.


The best things a first-time homebuyer can do are conduct research and ask many questions. Remember that buying a house is never easy for anyone. However, interest rates are currently lower than they've been since the 1960's so if you can buy a house, this is probably a great time.





With being a first-time homeowner, there are many questions you'll want to ask. It's easy to focus in on the size of the rooms, the structure, the lot, but there are other options to consider - things you need every day to live. Here are some examples:





Public transportation - If you depend on public transportation then you need to check into what options are available in the area you are interested in looking.?


Aging parents - More and more families are taking care of elderly parents, therefore, you should think about any special needs as you start looking.


Public safety - What is the crime rate in the preferred area? How close are public services such as police, fire, and hospital? Parking - Will there be any issues with parking? If the house you're interested in doesn't have a garage, is there ample off-street parking?


Utilities - This is an important finance to look at. Usually the seller can provide copies of the past few months for you to review, giving you an idea of what you would need to budget for.


New communities - If the area you want is in an entire new community, what recreational amenities are offered? Is there a clubhouse? Pool? Playground? Exercise facilities?


Property taxes - Some tax rules provide special benefits for veterans, elderly citizens, and even long-time residents. You should inquire what these benefits are and whom they cover.


When you get to the point of being serious about buying a house, these are the steps to follow to make the qualifying and purchase as easy as possible:





Establish good credit habits and cleanup any unfavorable reports.


You should start saving for the down payment, closing costs, and extra for any hidden expenses. Don't forget about utilities, moving expenses, and items needed for the home.


Research and read. Go to your local library and read up on as much as possible about financial management and home buying.


Start looking at various areas where you might be interested in living. Go to some open houses and do some comparison-shopping.


Meet with one of our buyer specialists and start the preliminary process.


Just remember that there is no reason to be afraid or intimidated when it comes to buying a house. The main concern expressed by couples is that they aren't sure where to begin. There is also the fear of rejection when it's very possible that the credit situation isn't as bad as they believe.





Home buying has become increasingly easier thanks to the Internet. Years ago, people hated the one-on-one approach of determining if they qualified for a loan. The Internet has made it so much easier where people can now go to various lenders, provide some information, and be notified online whether or not they qualify.





In addition, mortgage advice is also readily available. Whatever questions you have can easily be asked from the privacy of your own home. Responses are accurate, thorough, and always confidential.I'm 23 and want to take the first steps toward buying a home. Any advice as far as great websites, etc?
Hello my name is Amber, I am a loan officer. If you find home I can get you a loan at the best rate possible (depends on your credit ect..) Just email me if interested :)





aherrera@hayhurstmortgage.comI'm 23 and want to take the first steps toward buying a home. Any advice as far as great websites, etc?
good for you!!! try www.fha.gov - good for first-time home owners and www.fanniemae.com - shop around for mortgage companies - take your time - don't let anyone tell you that you can afford $1500 a month because it looks that way on paper - what looks good on paper seldom works in the real world!!!





GOOD LUCK!
wanna buy my condo?
First thing don't use a web site. It to impersonal and you can't verify the advice you are getting. The first thing to do is find a Mortgage lender and talk to them. It won't cost anything and they can look at your credit and tell you what you may need to fix or that you need to establish more and then in the meantime while you do what you need to do you should save some money. You may qualify for a first time home buyer loan which can be 100% but you will still need some money for closing cost. Once you get preapproved you need to find a Realtor. They can guide you through all the confusing things that come with buying a home. This is also a free service to the buyer. Take advantage of the proffesionals out there who can help you. If you find a mortgage lender or a realtor who tries to charge you move on. This should not cost you anything
i would agree that the mentioned above website is a great tool. However if you know your numbers i.e. Credit score, how much your down payment is, how much you can afford, how much you are going to buy the home for. Then you can use a free online calculator to compute your projected monthly payments. If you need someone to help you with this purchase or would like a quote to work off of feel free to contact me i have been in the industry since the age of 17 so i know a bit. PS YOU DONT HAVE TO HAVE A DOWNPAYMENT TO BUY A HOUSE!





thanks





chad
Congratulations! There are several things that you should do.


First, gather your bills and earnings receipts to see how much money you bring in each month compared to how much you pay out. You need to find out how much you can afford to pay towards a mortgage payment each month. Mortgage brokers can really push you into higher numbers than you can truely afford, so it is best to know what you are comfortable with before you speak with one. After you decide on a monthly payment amount, schedule an appointment with a reputable mortage broker. Stick to your guns about a payment amount (don't forget about HOA dues either) and have them help you find out what price range you need to stay in.





Once you have settled on a price range, you need to find a real estate agent to represent you. This person will be your guide through the rest of the process. Too many buyers make the mistake of finding homes online and then calling the listing agent. If you buy a home from the listing agent, how do you know how well they are really representing you through the process? Their first relationship was with the seller! Find a real estate agent to represent you! They will help you find properties, take you to see them and advise you throughout the process.





How do you know all of this, you ask? As it happens, I am a real estate agent in Colorado. I would be happy to help you find a reputable agent in your area or answer any more questions you have regarding the home buying process.





Two really good websites are www.realtor.com and www.trulia.com.
There is a good site below. When there click BUYERS then click FREE REPORTS and download all you need.





Great advice is there along with actual photos. One neat feature is you can see where you live from the satellite but its your actual house! Not a graphic.





Big brother is watching I guess.
Do you have a down payment? if not save for it that's your first step. oh and get pre qualified with a loan officer = )