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Here are some tips to help you with the process of buying your new home.
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Prequalify for a loan
Being prequalified for a loan determines how much house you can afford.
It also allows you to move more swiftly when you find the right house,
especially when you aren't the only interested buyer.
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Shop for mortgage rates and terms
A difference of even half a percentage point can make a huge difference
in how much you pay over the life of a loan. For example, the difference
in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent
is about $35 per month. Over 30 years, that's $12,600.
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Features that help or hurt resale value
In some areas, a swimming pool actually detracts from a home's value
and makes the home harder to sell. In neighborhoods with two-car, attached
garages, a single-car or detached garage may impact the home sale and
future value. Your Realtor can point out features that hurt, as well
as those that help, resale value.
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Rate the houses you tour
After touring each home, write down what you liked and didn't like.
Develop a rating system which will help you narrow the field down to
the house that's the best for you.
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