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Posted on: 29th Dec, 2006 10:05 pm
Hi, I am a newbie, and do not know how to begin if I wanna buy my house
Welcome Victor,

Are you thinking of buying home with home loan or is it with plain cash? In case it's a home loan, you may check out the Do-it-yourself page that this community has prepared.

Best of luck!
Posted on: 30th Dec, 2006 09:03 am
Hi Victor,

A geat decision for the new year!

Well, if you are planning to buy a home with a mortgage, then it's important to ask yourself as to whether you can actually afford to make monthly payments on a loan.

You need to think if you"ll be shifting within a few years or is it a long term planning. This will actually help you to decide if a short term or a long term loan is the right option for you.

You should shop a number of lenders and try to collect every minute detail that you feel is important for you to know. Enquire about rates, fees and even the extra charges that can later on affect your payments.

Based on the facts, you need to compare lenders and then select the person you feel can provide you with the best services. Also, try collecting few testimonials from the lender. This will help you to understand if he is really the one you are looking to deal with.


Posted on: 30th Dec, 2006 09:43 am
Hi Victor,

If you are looking to get a mortgage, just shop around with a number of lenders. It's not necessary that you need to consult a lender in contact with your builder. Rather, you can seek consultation from local lenders. At least, you can approach them easily in case you have any questions before and after taking the loan. And, if you builder wants you to use his in-house lender, that's illegal.

When you shop lenders, consider the rates that are available and then compare the monthly payments. You can select the lender requiring you to make the least payments, but then you should enquire whether he has a license in that particular state. Try to gather information on the lenders' service background also.

If you choose a particular type of loan, consider going for mortgage insurance instead of a piggyback loan. Mortgage insurance is now tax-deductible. So, you are likely to benefit from the insurance policy instead of taking two loans – one against 80% and the other against 20% of your property.

Hope by this time you have got some idea of the home buying process.

With best wishes,

Posted on: 01st Jan, 2007 03:43 am
Hi Victor,

Since you are a newbie, and unaware of the home buying process, you may go through the booklet prepared by this Community. The price isn't much though.

I have already bought the booklet and it helped me get good knowledge of home buying. Hope you like it and get help from it.

To know more about the booklet, visit .

For further queries, feel free to share it with this Community.

Posted on: 01st Jan, 2007 03:56 am
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