For the first time home buyer, approaching a local bank for a loan can be intimidating as the fateful moment of truth hinges on a simple 'yes' or 'no' from your mortgage lender.
But no worries. Making the long-held dream of buying a new home all depends on how well-armed you are with knowledge, -- along with the benefit of experience from mortgage experts -- to help you avoid common mistakes made by first-time buyers.
Once you become familiar with credit reports and scores, the real costs of owning a home, and how to compare mortgage rates - the next logical step to securing your home loan includes how to get the best home loan possible to save big over the long term.
A home is the biggest investment most people will ever make, so finding ways to save on mortgage payments can often spell the difference between owning a home and a home owning you.
Around the Web, get a crash course in mortgage jargon,
find online calculators to estimate costs, discover the zen of loan applications, and generally
get your feet wet before you plunge into that home
loan application with the help of step-by-step
Web guides to home financing ....
Information & how to's about mortgages & home loans around the Web:
- Online since 1995, these folks have advice and calculators for the widest range of mortgage options. Info on mortgages by state, rates to expect if you have bad credit, jumbo mortgages if you're in the market for a home costing over $350,000, reverse mortgages, so much more...go calculate! Thanks to David for suggesting the site from his personal bookmarks...
Mortgages and Home Loans Guide - Deciphering mortgage loan-speak to make your mortgage options clear and familiar before you start shopping in this foreign territory of brokers, bankers and accountantswith a complete list of mortgage
terms from acceleration to wraparounds...
101 - Get a college education in home financing with
guides to down payments, credit reports, home insurance and
appraisals, including related news, searchable database of
mortgage rates, and a collection of interactive financial
Reverse Mortgage - A comprehensive guide to the popular
equity loan clearly explained in several feature articles
and including a glossary of terms, online calculators.
Reference Desk - A searchable database of mortgage
terms, Q&A, a guide to loan applications and a listing
of mortgage insurance agents in the U.S., Canada and Australia.
Associates - Free and fee-based info on mortgages
and loans, rates and closing costs and check out the online
calculators for estimates on savings of prepayment, credit
grade, amortization, metric converters and more.