Free guide for first time homebuyer's
The guide is definitely geared towards the benefits of owning a home, but I am impressed that it points out that in certain cases, renting makes more sense. I don't care for the guider's description of home ownership as "Owning your own home is like having a savings account that you can live in." as that seems to be part of the problem individuals are currently experiencing with the current lending crisis. The guide even offers up a selection of the ways to find money to use for your down-payment, including using a forced savings account or selling unused items, to name a few. The guide also details interesting places you can find funds such as down-payment assistance programs or borrowing against your 401k. The latter being something I wouldn't recommend doing.
As a current renter looking to purchase in the near future I have found this guide to be a very good primer. While i still have some questions about becoming a first time homeowner, I have a few more ideas about what to ask friends and family regarding our first mortgage.The information about choosing a home and a real estate agent are also really useful for me as the right agent can make a huge difference.