Home Buying Process

Know Your Rights as a Homebuyer

Home Buying Process Information

The home buying process can be enjoyable when you follow these tips! Before you start, there are many laws that protect you from scams, unnecessary expenses, and discrimination in the process of homebuying. Know your rights!

Find out How Much Mortgage Can You Afford

You can save yourself a lot of wheel-spinning during the home buying process if you take a minute to figure out how much mortgage you can afford. Generally, a lender will want the homebuyer's monthly mortgage payment to total no more than 29% of your monthly gross income (that's your monthly income before taxes and other paycheck deductions are taken out.) You also need to consider current loan interest rates. The lower the interest rate, the more expensive the home you'll be able to afford. Follow our tips and use these simple calculators to see how much you can afford in a mortgage payment.

Create Your "Wishlist"

Make your Wish Lst. As a homebuyer focus on the features you want in a home: 2 bedrooms or 3? 1 bath or 2? Garage or no garage? Knowing what you're looking for will help you focus your search. And it will help your real estate broker, too.

Find a Real Estate Broker

One of the first steps in the home buying process is to start searching for a broker. Talk to several and find someone you think you'll be comfortable working closely with. Many of your friends and relatives have probably bought and sold their homes through brokers. Ask them who they used and what their experiences were. You can find out which brokers specialize in the kind of home or the area you want by looking in the Yellow Pages or your local newspaper's classified real estate ads. Or drive through neighborhoods and note the names of brokers on "for sale" signs. When you talk to prospective brokers, ask questions about the areas and types of homes in which you're interested. Do they seem knowledgeable? Most important, is their personal style a good fit with your own?

Mortgages and Homebuying Programs

Many different kinds of mortgages are available to you. Read about them, and make sure you understand the pros and cons of each. Your real estate broker can help you. HUD offers some special homebuying programs. Also, many local governments offer special homebuying programs to help low-income homebuyers. Shop around - you may be surprised at all your options!

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Main Line area real estate resources

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Main Line area real estate events & news

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The data relating to real estate for sale on this website appears in part through the TReND Broker ReciprocitySM program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Prudential Fox and Roach Realtors participates, and is provided by TReND through a licensing agreement.The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Data from the Zillow, Google Map, and Walk Score modules, is not provided by TReND, and should be considered informative, but not accurate. � 2010 TReND, All Rights Reserved Data last updated: Date updated will go here once site approved by TReND
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