Here’s what every first-time home buyer needs to know to dive into house hunting with confidence—and with as few curveballs as possible. 1. How much home you can afford as a first-time home buyer? Homes cost a bundle, so odds are you’ll need a home loan, aka mortgage, to foot …

Oo the day when a home becomes yours officially,known as closing day, you will pay out more than just the price of the house. > loan origination fees ( points) and other charges. .Average 2-4% of the home price > ESCROW fees .Average several hundreds to a thousand dollars >Homeowners …

Deciding whether to buy. With 4% inflation per year, if your rent costs $1000 a month in 40 years it will balloon to $4800 per month. That’s like buying a house for $960 000. although the cost of purchasing a home generally increases over the years,after you purchase a home, …

If you can not afford to buy just yet, keep renting. If you income, job security, and ability keep up with regular house payments plus ongoing maintenance costs are not predictable and stable; or you are planning to move in the next three years, then now may not be the …