Buying a home — it’s a big decision; one that you should prepare for in advance.
“One of the most important things a first-time homebuyer can do is prepare their budget for this big financial event.” (“How to Prepare Your Budget for Buying Your First Home”. http://finance.yahoo.com/news/prepare-budget-buying-first-home-123000854.html)
And there’s a few key ways that you can get your budget in order:
When home buyers have pets, that factors into their priorities for their future home. While the specific priorities differ from person to person, a massive 95% of consumers think that allowing animals within a housing community is important. Other preferences that consumers value include:
Nearby animal amenities (a walking path ranks at #1 at 54%; a nearby dog park or animal grooming also is included in the list).
Home features important to animal owners (not surprisingly, a fenced yard is vital to 91%, with a laminate floor coming in second as another priority for 66% of consumers).
While interest rates have remained at low levels, many analysts are predicting that mortgage rates will be heading upward. With this in mind smart homeowners are rushing to lock in the low rates. The following tips will help interested homebuyers in shopping for the best rate.
How to shop: If you simply call up and ask a lender for interest rates the lender can tell you almost anything. One lender might offer a floating rate, while the next would offer you a forty day rate. Instead, before you call up you need to know two things: how many points you want to pay and how long you want to lock in the rate. You also want to call all the lenders on the same day. This way you will get a common basis of comparison for the different quotes.
Getting a reliable quote: Beware of lenders who promise unreasonable low rates. This does not mean that lenders are unreliable; however there is an incentive for the lender to fudge the quote in order to gain your business (the bait). Then when you go in to fill out the paper work the lender will change the rate on you (the switch).
How to Really Shop for a Lender: The best way is to get a referral, then shop other lenders. Do it properly, telling the lenders how much you are willing to pay in points and how long you want to lock in the rate. Make all your calls on the same day. Tell the lender you have filled out an application and that you will fax it in, so the rate has to be something he can deliver.