Great info here....
.... another brief YouTube video, courtesy of http://warealtor.org/
If you're still wondering if this is a good time to buy a home, you'll definitely want to listen in as Bob and Sally get a lesson on Mortgages, Interest Rates, and Savings. Maybe you don't remember what happened to Interest Rates during the 1980s (OK, maybe you were too young to care about interest rates in the 1980s).
Well let me tell you-they were UGLY. They were so ugly I wondered how my kids would ever be able to afford homes of their own.
But now it's 2009, and Interest Rates are beautiful. Here's your chance to grab the low rates while you can. So what are you waiting for? You've got things to do. Here's a short list:
1. Watch the YouTube video
2. Head on over to wahomeowners.com for some more excellent information.
3. Locate a local Realtor who will provide you with the names of some local lenders in your area. It's the Lenders' job to explain all the fine details. (Hint: ActiveRain is still a good place to look for a local Realtor.)
4. Go prepared to meet with your Lender Gather up your financial data (how much money comes in every month and how much money goes out each month). Your Lender will ask for more information from you if you decide to work with the Lender.
5. Go back to the Realtor you previously located Once you've made the decision to move forward and buy a home (move being the operative word) go back to the Realtor you previously located. Share the good news that you're qualified to buy a home, ready to buy a home, and ready to go house-hunting right now!