The Department of Housing and Urban Development prohibits discrimination and intimidation of people in their homes. Principles of freedom and opportunity ensure that all housing is Fair Housing. Beginning, October, 2015, new single family residential mortgage rules came into effect when closing on a home. Written and instituted by the Consumer Financial Protection Bureau (CFPB), The Know Before You Owe mortgage disclosure rule replaces four disclosure forms with two new ones, the Loan Estimate and the Closing Disclosure. The new forms are easier to understand and easier to use. The rule also requires that you get three business days to review your Closing Disclosure and ask questions before you close on a mortgage. Choose your lender carefully. Click on this link for important information from the CFPB regarding your home mortgage and the lending process, http://www.consumerfinance.gov/owning-a-home/.

You can save money by comparing costs and interest rates. Talk to several lenders in order to get a better deal. The pre-approval process can also speed up the process allowing you to move in to your new home faster.

Credit reports are maintained by http://www.experian.com/,http://www.equifax.com/home/en_us and http://www.transunion.com/. Borrowing for your home can go much smoother if you correct any errors in your credit report before applying.

FHA loan programs offer lower downpayments and may be a good option for first-time homebuyers.

Choose a real estate agent. Pam Owen can comprise a list of homes that fit your criteria in the locations where you want to live. With Pam’s experience and eye for design, she can help find the perfect home and features that exceed your expectations. Whether you are looking for the perfect starter home, a larger home for your growing family or the mansion of your dreams, Pam knows what is available and will be happy to assist with your home shopping needs.

This is where you really need the help of a realtor. The negotiation process can be difficult at times. Many offers are not accepted the first time. The seller may come back with a counter offer. Pam can make this process easy. Negotiation processes are mentally draining, but Pam will handle all of those annoying details to get you in your home.

Buying a home is one of the most important purchases and investments you will make. A qualified home inspector evaluates the physical condition of the property, identifying items that should be repaired or replaced and estimates the remaining useful life of plumbing, electrical, heating, air conditioning, equipment and structures. This will help keep you from those major repair surprises.

Some providers offer discounts for bundling your insurance needs. For example, compare quotes for purchasing auto, home and life from the same company. Determine the appropriate deductible A higher deductible usually results in lower premiums Some home safety features such as dead bolt locks and alarm systems may reduce premiums Insure your home, not the land. After a fire, the land will still be there. Make sure you purchase enough coverage to replace what needs to be replacedStay with the same insurer. Some companies give discounts if you stay with them for 3-5 years. Review your policy and limits once a year. Don’t forget to include insurance costs in your budget when determining the price of the home you can afford.

Pam Owen has experience handling closings and thoroughly understands the process. Pam will help you through the process getting you in your home in a more efficient manner.