For most people, their first home is the most expensive thing they’ve bought up to that point in their life. It can be an intimidating process. Finding the most up to the date mortgage rates, picking the right neighborhood, choosing a lender; these are all hard decisions, and not everybody has somebody to guide them along that’s already gone through the process. If you’re looking to buy a house but have no clue where to get started, here are some basic facts.
Less Than 10% of Homes Are Priced Under $100,000
Unfortunately for most Americans, houses are incredibly expensive. Only 8% of houses sold are priced under the $100,000 mark. 38% of houses sold are priced between $100,000 and $250,000, and that’s likely the mark you’ll want to aim for, depending on your individual situation. It’s important to know what you’ll be getting into before diving into the housing market.
Taking Out a Mortgage
When you buy a home, you aren’t forced to put up all of th