GayREAD.com Library
Frequently asked Questions and Answers
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What are some money-saving ideas when I
buy my new house?
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First you need to identify a
house payment that you are comfortable with and identify homes
in that price range. You may want to focus your efforts on
properties that appear more likely to appreciate helping to
realize some of your other long-term goals.
Current financing plans may offer your greatest opportunity
to save money when buying. Depending upon how long you plan
to remain in your home, the lower interest rates on Adjustable
Rate Mortgages (ARMs) may be the way to go for you. If you
prefer the security of a fixed-interest rate loan, look
at one with a longer term of 30 years. If you are eligible,
you may be able to go with a VA guaranteed loan. Check with
your lender to see if you are eligible for any FHA or regional
goverment insured special loan programs.
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Answered by
Mike Pugh of Arlington,
Virginia |
