An eBook 10 Steps To Master the Homebuying Process

Embark on your home-buying journey with confidence! The Ultimate Home Buyer's Guide provides you with all the essential tips, tricks, and resources to master the homebuying process. From understanding credit reports to closing day triumphs, every step is detailed to ensure your success.

What You'll Learn:

Introduction: The American Dream - Discover what it truly means to own a piece of America.


Step 1: Check Your Credit Report - Start your journey on solid ground with a clear credit status.

Step 2: Create a Budget - Financial planning made it easy to afford your dream home.
Step 3: Decide Whether to Buy or Rent - Make an informed decision with expert insights.
Step 4: Get Your Pre-Approval Letter - Step ahead in the home-buying race.
Step 5: Find a Real Estate Agent - Partner with experts who can navigate the market.
Step 6: Search for the "Perfect Home" - Tips on what to look for in your ideal home.
Step 7: Purchase Offer and Contract - Understand the legalities and secure your interests.
Step 8: Home Inspection - Ensure your future home is in top condition.
Step 9: Secure the Mortgage - Learn how to find the best financing options.
Step 10: Closing Day - Prepare for the final steps before you get the keys.


Available in both English and Spanish.

 

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AFFORDABILITY CALCULATOR

Use this calculator to determine how much house you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.
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Mortgage Help

Down Payment

The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.

Loan Term

Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.

Interest Rate

This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.

Property Tax Rate

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Home Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.

HOA Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.