Recently, I’ve been helping a friend through the home buying process. Although I purchased a home a few years back, I’d forgotten how rigorous the process can be: How much earnest money do I need to put up? Will the seller help with closing costs? Do I need homeowners insurance? And, oh yeah, and what the heck is a HUD-1?
And don’t forget your signature on all that paper work. It’s like signing your life away and enough to make you say, “OMG I need help!”
With interest rates at an all-time low and the housing market on the mend, now might be a good time to consider whether buying a home is right for you. From finding out how to get your credit in order to tips on how to find a real estate agent, HUD can help.
Check out these really cool and helpful videos: Shopping for a home, Shopping for a Loan and Closing the Deal. And when you are done visit HUD’s website to learn how to begin the process of buying a home; what is earnest money and how much do you need to set aside; are there special mortgages for first time homebuyers, do you really need homeowner’s insurance or to get an inspection, and much more.
When looking to buy a home, don’t get frustrated get help from HUD.