Income, Credit & Home Loans: Buying a House

Summary: Buying a first home is a major milestone in the life of a twentysomething college graduate or a newly engaged couple. It’s one of those things you get excited about and look forward to for years, hoping that in six months, if reasonable interest rates and a healthy housing market hold, it will be the perfect time to start scouting for that perfect little fixer upper in a middle class neighborhood, preferably with good schools nearby, a local park, an active community, and no registered sex offenders for at least two miles.

But aside from the aesthetic and practical concerns associated with purchasing a home, there is a large financial quality to the process that often gets overlooked or underemphasized. A house is one of the largest financial investments you will make over the course of your life, and having your ducks in a row, so to speak, would be wise before you accept responsibility for a 15 to 30 year mortgage loan.

In these free video clips with advice for potential homeowners, learn about some of the steps, and some of the potential risk, involved in buying a new home. Our expert will walk you through the process with tips on how to look at your credit score and perform credit repair, what to expect to pay for taxes, insurance and PMI, and how to make a down payment or get assistance. He’ll also explain how to analyze your finances, including debts and annual income, to determine how much house you can afford.

Go into the home buying process well informed and well equipped to make the right decision for yourself, your family, and your budget.