Select A Department:

Courses in this Department

How Ready Are You to Buy a Home?

Determining Your Dream Home and Finding It!

Factory Built Homes Are Worth a Look

Purchase Manufactured Homes with FHA Loan

How to Buy a Foreclosed Home

Pros and Cons of Corner Lots

Know the Neighborhood Before You Buy

Tune in to an Open House on the Radio

Finding a Qualified Broker or Agent

Shopping for a Loan and Choosing a Lender

How to Improve Your Credit

How to Survive the Loan Application Process

Making an Offer and Signing Contracts

Cancel Your Contract in 3 Days

Understanding the Closing/Settlement Process

Choosing Home Inspection and Settlement Professionals

Double Check Your New Home - The Walkthrough

Know Your Consumer Rights

Seniors Have Many Housing Opportunities

Preparing for the Big Day -- Relocating Moving

Make Your Home Your Castle - Cost Effective Redecorating Ideas


It's a Balanced Decision

Fixed rate versus Adjustable rate.

Making Your Decision
Take a balanced approach.

The fixed rate/variable rate decision is one of the first decisions you'll make in shopping for a loan. It's a balance between looking at current interest rates and then answering the previous personal questions. If you believe that interest rates are going to fall in the next few years, or you plan to live in your home only for a few years, then an ARM might be for you. If you're not willing to gamble on interest rates or think you might stay put, pick a fixed-rate loan.

Remember the Bottom Line
Don't get side-tracked.

While your real estate agent or loan officer is firing these ARM buzzwords at you, don't forget the bottom line. Before falling in love with that temptingly low but temporary interest rate, be sure to ask: What is the maximum rate I could pay?

Seller Financing
That is another option!

In some cases, particularly if you need help getting financing or qualifying for a large enough loan, the seller might be willing to assist you. Although it's not usually advertised-you have to inquire with the seller or their agent-this unique type of financing can be a great deal for both buyer and seller. It's definitely worth exploring with your Realtor acting as facilitator. For example, if the seller has already paid off their mortgage, he or she may be willing to hold the mortgage for you. Or if you don't qualify to borrow quite enough to purchase the house, the seller may be willing to contribute with a second mortgage that makes the purchase possible.

Homebuyers, Start Your Engines!

Now that you've decided on the type of loan you want, you can start shopping around.

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