September 14 2010

New Home Buying Resources For The First Time Home Buyer

by racheal

New Home Buying Resources

As a first time home buyer, you may feel overwhelmed. While the stress for saving up for a down payment may be over, it’s time to get down to the heavy lifting of buying a new home. This includes finding a home loan, knowing your local home market conditions as well as interest rates. Below you will find new home buying resources that can make your home buying experience less of a headache.

First Time Home Buyer meet the FHFA!

In 2008, The Federal Housing Finance Agency (FHFA) was organized. This regulating body of Fannie Mae, Freddie Mac, and a dozen other federal home loan banks was designed to strengthen the housing market. What does this mean to you? The FHFA provides supporting and educational resources for the first time home buyer.

The Federal Housing Finance Agency website is a great tool for finding the current mortgage rates and your local house price indexes. FHFA also provides current information and updates on the housing market along with information on any ongoing tax breaks. Perhaps the most important aspect of this site is that it provides other new home buying resources such as the National Association of Home Builders and the US Department of Housing and Urban Development.

The US Department of Housing and Urban Development

For expansive new home buying resources check out the US Department of Housing and Urban Development (HUD). Not only can new home buyers find information on buying rights, home inspections, predatory lending, home economics, and local home buying programs, you also have the opportunity to speak with an actual HUD housing counselor!

This is a great resource to have at your disposal. Before you talk with a HUD counselor, make sure you have written down any questions you may have about buying a new home. HUD counselors are well knowledgeable in new home financing, realistic expectations for a new home owner, affordability, and signs to be wary of before buying a home. HUD is one of the best new home buying resources to use when buying a new home.

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Comments (3) -

1/20/2011 10:07:46 PM #

<A href="">The home insurance</A> policy is usually a phrase contract—a agreement that is in impact for a fixed time period.

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1/29/2011 10:29:25 AM #

I’ve considered several web logs and I can easily for sure say that this the first is my favorite .

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2/4/2011 6:01:22 AM #

Thank you Janie!

racheal |

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