A Guide To Getting Your First Mortgage

5 Replies


Just read this article on Yahoo!, They damn near make it seem like home ownership is for the selected few. What do you guys think about this?  

meh. Looks like healthy advice for the "average" first time home buyer. 

Originally posted by Sam & Heather Jones:

meh. Looks like healthy advice for the "average" first time home buyer. 

 "Average" as in a moderate income? 

average as in all aspects of the word. Ignorant - in the literal sense. The average first time buyer needs a lot more hand holding than most realize. 

Linked article

This may seem like a basic article, but there are tons of people out there who have no idea what goes into buying a home. They don't teach people about this in school.

in 2007, I went to a class by a nonprofit neighborhood services agency for first time home buyers and they went over exactly the same thing. The agency required home buyers to complete this four hour class prior to applying to any local government incentive programs. You will be surprised. One of the best questions asked in my class was, "what do you do if your house gets shot up while in escrow?", aka if someone in the car with a machine gun drove by and shot 200 bullets into the property while it is in escrow, do you still close on it. The second favorite was, "if you walk into the house for final inspection and realized the previous owner took the chandelier, what do you do?" It is really quote entertaining to meet different kinds of people, and we can't assume everyone is on the same page regarding common sense.

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