San Diego, CA (PRWEB) August 17, 2013
LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. In the wake of a still stabilizing U.S. economy, loan borrowers still find themselves with faced with unfamiliar territory when it comes to home buying. The experts at LoanLove.com are here to help in a newly released article showing the steps to buying a house for the first time.
The article, with the headline titled, “3 Steps To Buying A House For The First Time (In TODAY’S Market)” first begins by bringing loan borrowers up to speed with the state of the mortgage industry. “From sky-high prices and easy financing at the height of the housing bubble to the rock-bottom prices and sea of foreclosures – not to mention much tighter financing – of just a couple of years ago, the market has been giving the appearance of instability and unpredictability to those unfamiliar with its long history” says the article. Much of this can be due to the collapse of the U.S. housing bubble caused by the economic crash in 2008. The Loan Love article offers potential home buyers help in getting the best home deals in the form of these three steps:
- Acting now while interest rates are low
- Being realistic about what you can afford
- Know The Home’s Real Value
If a loan borrower is asking themselves when to buy a house, the best possible time is now. As the article further elaborates, “Unlike a few years ago – or even a year ago – when mortgage rates bottomed out at all-time lows, the market and unemployment levels are much more stable now, and interest rates have begun to rise in response to those indicators. Chances are, you won’t get a better rate by waiting around, so start comparing rates and doing your homework, and then lock in your rate as soon as you’ve found the best mortgage for your needs.”
Managing your money is also important as it can help save you the trouble of being buckled down by loans that are far more than what can be realistically afforded. While many loan lenders may offer adjustable or interest-only mortgages, keep in mind that these loan deals aren’t suitable for everyone. The article recommends studying the different types of mortgages and find an affordable mortgage loan before a borrower settles on a deal.
Lastly, every home buyer will want to know the true value of their home. Home values may vary due a wave bank sales skewing the values of homes. More so, previous homeowners may be willing to charge more for home values in order to make ends meet with their own loans. The Loan Love article suggests that home buyers speak to their real estate agents in comparing the sales of a home area in the past year. There are also many websites that allow home buyers to search past homes sales such as Zillow.com.
Using these steps in buying a new home can help loan borrowers find the best deals and save money in the process. To know more on buying a home for the first time, please visit LoanLove.com.