East of the River Real Estate

I read an interesting article the other day on www.msn.com called “10 savvy homebuying tips for 2010.  The article was written by Holden Lewis of Bankrate.com.  Here are the high level tips:

     1. Consider an adjustable-rate mortgage.
     2. Get your loan early in the year.
     3. Know your credit.
     4. Ask for three or four loan scenarios.
     5. Refinance for the remaining term.
     6. Know your numbers.
     7. Small down payment? Go FHA.
     8. No down payment? Go VA or RHS.
     9. Check rates on jumbos.
    10. If you fall behind, consult a counselor.

I would recommend reading the complete article to delve into more detail; the article is located at http://realestate.msn.com/article.aspx?cp-documentid=23305541&gt1=35000.

The article brings up many good points.  As a consumer you need to ask questions, listen and explore all the options that are available to you.  Being educated will allow you to make the best decision for your goals, both long term and short term.

In today’s day and age, the consumer has access to more information that they have ever had in the past.  Information overload can be a dangerous place and I would advise consumers to take the time to fully educate themselves.  Ask questions.  Engage with trusted advisors, whether that is mortgage broker, banker, real estate agent, financial planner, etc.  Each might have a different opinion and be able to guide you to the pros and cons.  Ask, listen and learn … then you will be armed with the best information to make a solid decision.  Good luck and happy homebuying!