The Sounds Inside My Mind

Nissa and I have been discussing buying a home for a long time. We’re now going ahead and hope to have a place of our own by the summer. In the first two weeks of February we attended a first-time home buyers course offered through hoMEworks. This past Saturday we met with a representative from my credit union, who referred us to a local mortgage company that they arrange their home loans though. We have an appointment with the lender on Friday morning. Since it is wise to shop around for the best deal (which isn’t necessarily the lowest interest rate), we also have an appointment with a lender from Nissa’s credit union on Saturday morning. We are hoping to get a loan that will cover the kind of house we can both be happy with. Each of us has good credit, but also a bit of debt in the form of auto and student loans. I think we are being reasonable with our home buying expectations. We certainly aren’t going to look for who will loan us the most money and then buy as much as we possibly can. We’ve determined how much money we’d like to spend each month on the house (the mortgage, home insurance, heat and taxes) and we’ll find a home that fits that budget. I’m quite confident that the amount we will qualify for will more than cover the amount we are willing to spend on a house.

Being a first time home buyer isn’t easy, but luckily there is a lot of great information out there. The home buyers course I linked to above offered a wealth of information, as well as some contacts in the banking/real estate/title law fields. The Maine State Housing Authority page has a lot of information for first time home buyers as well. I’ve begun to read the Get Rich Slowly blog for economic advice that goes beyond the home buying process. There is also good advice available the The Motley Fool. Lastly, we’ve had some fun looking at what homes are available through Realtor.com and Zillow.com.