Saturday January 28, 2012
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First time home buyers have a million questions, and luckily, CNN financial editor and author Gerri Willis has a million answers. Here's what you need to know before you buy a home.

 

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Minimum Bed/Bath
 

Mortgage Rates

TODAY RATE
  • 30 Yr Fixed: 3.66%
  • 15 Yr Fixed: 2.97%
  • 5/1 ARM: 2.58%
Last Week's Rates
  • 30 Yr Fixed: 3.74%
  • 15 Yr Fixed: 3.08%
  • 5/1 ARM: 2.61%
Provided by: Zillow

Securing your Mortgage:

It's not always necessary to have a mortgage broker or bank in your back pocket before buying a home, but it's smarter to get loan preapproval in advance. This way you know for certain how much home to buy.

I once bought a home without financing in place when I made the offer. I was just lucky. Many sellers won't look at an offer if the seller doesn't have assurance that the buyer can get a loan.

“I'm so excited that we finally found something. It's been great looking with all the help from your team.  Wendy has been wonderful to work with , she is professional, efficient and has a great attitude no matter what. 
 
Thank you Again for all your help”

Mary J. Smith, CA

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