Choosing the home Finding your home Introduction Financial Process Buying your home Your privacy
Introduction It’s the American Dream; home ownership has been the goal of multiple generations since the beginning of the 20th century. Yet today, although the fundamental principle of buying a home hasn’t changed, the home-buying approval process has become far more complicated than our grandparents every dealt with. Much of this has had to do with the explosion of different ways of financing homes, and the fact that 99 percent of first-time Homeowners today are unable to buy a home outright with personal assets due to pricing. The Advantages of a becoming a homeowner Everybody you talk with has traditionally been in agreement that buying a home is a financial rite of passage for all successful adults. Whether it’s your grandparents or your uncle, or your mentor at work, they all seem to say the same thing. You should buy a home when possible. Clearly there are physical benefits. Homeowners gain a place of their own which can be tailored and lived in as desired. A new home provides growing space for new families and parents-to-be, it makes a home, a sense of ownership, and it provides storage for one’s life. Financially, first time Homeowners are finally able to direct their money towards their own equity rather than someone else. When you pay rent your money is going someone else. You get no further benefit from the payment beyond the temporary lodging the fee pays for. Home ownership with a mortgage means your payments go you’re your eventual full ownership of your house, and you can use the build-up of that ownership (equity) to finance new needs. Further, homeowners enter the possibilities of increased financial success via investments. Home values traditionally increase over time, which grows the equity one has in the home. When sold, the money left after the mortgage balance is repaid can be reinvested in a new home of greater value since the fiscal amount has grown. Socially, home buyers will realize a sense of success once they own a home. Both in the workplace and among contacts, home ownership signals a sense of passage and maturity which seems to pay a social dividend in your perceived character.
New homeowners Mortgage application
A layman’s guide for the first time home buyer.
First Time Homeowners .org
Home - Introduction