What To Look For When Buying A House - Home Purchasing Tips And More In A New LoanLove.com Article

SAN DIEGO, Aug. 19, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. LoanLove.com continues to support home buyers and loan borrowers with helpful tips on home purchasing. In A new article, "3 Steps To Buying A House For The First Time (In TODAY'S Market)", Loan Love shows future home buyers exactly what to look for when buying a house using 3 easy steps.

The article starts by saying, "First, let's start by saying that pretty much anyone who's tried to buy a home in the last 10 years or so probably has an odd view of the housing market: From sky-high prices and easy financing at the height of the housing bubble to the rock-bottom prices and sea of foreclosures – not to mention much tighter financing – of just a couple of years ago, the market has been giving the appearance of instability and unpredictability to those unfamiliar with its long history." Much of this is due to the banking blunder that allowed the writing of unreasonable loans on properties that were fixed at inflated prices, and ultimately changing the housing market as of today. So what are some tips for buying a house? The experts at Loan Love urges home buyers to:

  • Act now while interest rates are low
  • Be realistic about the mortgages you can afford.
  • Know a home's real value

Acting now on interest rates can be decisive for any future home buyer. The article had this to say on the matter: "Unlike a few years ago – or even a year ago – when mortgage rates bottomed out at all-time lows, the market and unemployment levels are much more stable now, and interest rates have begun to rise in response to those indicators. Chances are, you won't get a better rate by waiting around, so start comparing rates and doing your homework, and then lock in your rate as soon as you've found the best mortgage for your needs."

The Loan Love article also cautions that home buyers be sensible in what they can afford. Avoiding mortgages that can be too much for a loan borrower's financial scenario can save the trouble of paying a sizable fee down the line. While certain mortgages such as adjustable-rate or interest only mortgages may suit other loan borrowers, they are not for everyone. Loan Love suggests that reading on the different types of mortgages will be most logical move before choosing a mortgage type.

Finally, a home buyer should get to know the real value of their home before making a hasty purchase.

Home values can fluctuate, whether through homeowners trying to make ends meet with their loans or bank sales flooding in that may alter the pricing of homes. Doing research by comparing past sales of an area can provide a rough idea of how much a home will cost in the end. This can be easily done with the many comparison features found on multiple websites, such as Zillow.com. Speaking with a real estate agent can also help in providing comparable sales within recent years.

These steps can help provide borrowers with the best possible deals when it comes to purchasing a home. For more information and to view the full article, please visit LoanLove.com.

Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, contact@loanlove.com

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SOURCE LoanLove.com

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