Are Your Ready To Get Your First Time Home Loan

Your landlord is ridiculously asking for an increase in rent every year but your family income stays the same.  You are trying to weigh your options, is it time to get your own home or continue renting.   There are several things to consider first and the most crucial question is : are you ready to render your first time home loan?

Companies, private or government owned have a lot of favorable packages for those who want to avail of first time home loans.  With the recession affecting all economies there are so many foreclosed properties that were sequestered by these companies that they want to dispose off and they are willing to give the property through home loans and lenders specially the first timers.

Now is the time to do your research about the steps you have to do to buying your own home.

1. Figure out how much you can afford
2. Know your rights
3. Shop for a loan, especially those that are tailored to first time home loans and lenders
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers