As you start the home buying process, it’s fairly common to begin researching available homes through the internet and to understand how much buying power you may have through mortgage pre-qualification. We suggest adding one more invaluable component, investing your time in Pre-Purchase Coaching, provided by a certified coach from a U.S. Department of Housing…
Posts Categorized: Homeownership
The “Sold” sign in the yard is a clear indicator that your dream of homeownership is about to become a reality. Now comes the essential step of protecting your family and this precious new asset with the proper insurance. In fact, all lenders will require you to have homeowners insurance at the time you close…
Purchasing a home is one of the biggest decisions you can make. Not only will it be one of your most expensive purchases, but it can also have a drastic effect on your quality of life. There are several things you should consider when buying a house, including costs, locations, and building quality. Take a…
The Home Buying Process The home buying process can be overwhelming, especially for first-time home buyers. We want to give you a quick overview of the process, including some important steps you should do at the beginning of the process. 1. Attend a pre-purchase education course This is a very important first step that too…
The experience of buying a home is more enjoyable when you’re able to stay one step ahead of the process. If you have already followed our checklist for preparing to buy a home, it’s time to get pre-qualified and pre-approved for a home loan. These two are not necessarily the same, and serious buyers are…
Buying a home is one of life’s most meaningful milestones, particularly for first-time homeowners. At credit.org, we’re here to provide the information you need in order to pave a clear path toward your homeownership goal. While it is indeed a journey from the time you decide you want to buy through closing and moving into…
Is there a room in your home that you rarely use, such as a spare bedroom or den? If so, under certain circumstances, it might make sense for you to rent that space out to a tenant, especially if you live in a big city or desirable suburb with high demand for rentals. Renting out…
People who are not married buy homes together all the time. And while this may not be a startling revelation, there are some potential homeownership land mines that you would do well to consider before signing all of that paperwork at the closing table. Unmarried home buyers can be any combination of two or more…
Credit.org is approved by the U.S. Department of Housing and Urban Development (HUD) as a comprehensive housing counseling agency. We help home buyers prepare to become better educated and informed homeowners. For most people, understanding the process and requirements of obtaining a mortgage loan as well as which type of lender to use and what…
Homeownership is still a major part of achieving the American Dream. I should know: I bought my first home with my husband two years ago, at age 28. So why is it that 2 out of 3 Millennials (many of whom are in their 30s) rent instead of own their homes? Common misconceptions can make…
Exploring the different types of home mortgage loans available will present you with a wide array of products, terms and options. There are important differences to understand and consider in each of these areas and it can get complex and complicated. It’s a good idea therefore to start with the basics. When looking for a…
A lack of knowledge about the home buying process is one barrier people often encounter. Another large barrier is on the topic of debt. Debt affects every other step of the home buying process, and we’ll talk about that in a moment. We’ll start with the number one barrier to homeownership that people cite: down…
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