First Time Home Buyer-First Loan - Zillow Real Estate Advice

The suggestions of this fool to any First Time Homebuyer ;)

The First thing you do IS NOT run out and just use any ol Lender/Agent....

Why? Because this is a very Large Business Transaction and the Selection of an Lender/Agent is an Important one for a lot of different reasons..
Select wisely and take the time to be sure you find the Best Lender and/or RE Agent if you choose to use one for you...

Become informed..be smart with your money...if there is a good Deal be able to recognize it, if there is a Bad Deal be able to recognize it
Know your Market does not just mean know what sold for what right now or in the past...It means KNOW your Market, know as much as you can about everything in your Market

How are the Schools doing? Budget Outlook/Enrollment up/down? Shortfalls, cutting back?..
How about the City Budget Outlook/Services to Roads ect..
How's the County Budget outlook?
Jobs?
Foreclosure Outlook/Impact?

I would suggest you give this Fed. Gov. Site a look, it has all the Current Fed Housing Loans (FHA/Vet/USDA ect.) and you search for specific information, compare options, or take a short questionnaire to determine your eligibility for each program.....Fed Loans..Housing

I would suggest you read the 9 Steps to Homebuying on the Hud site as they are an excellent guide & Resource plus links to your Local Homebuyer Programs....
(Step 3 is interview lenders..Step 5 is interview RE Agents)..
Buying a Home

Check out all this information from the Dept. of Justice Web Site...
Competing Models of Real Estate Brokerage

You could also make use of the Fed Gov and Banks Sites they have created to allow the Public to view their Properties for Sale/Foreclosure/REO..Get a feel for Prices and different Options

Sites like...HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link

Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link

For finding Public Records, Property Records, Tax Sales posted ect. you may find this Public Records Search Engine helpful...Check it out
Free Public Records Search Directory

It's YOUR Money/Commitment and YOUR Financial Transaction
YOU have important decisions to make....YOU must protect yourself

Good Luck

Source: http://www.zillow.com/advice-thread/First-Time-Home-Buyer-First-Loan/472290/

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