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MORTGAGES AND HOMEBUYING PROGRAMS
Many different kinds of mortgages are available to you.
Read about them, and make sure you understand the pros and cons
of each. Your real estate broker can help you. The Department of
Housing and Urban Development (HUD) offers some special
homebuying programs. Also, many local governments offer special
homebuying programs to help low-income homebuyers.
SHOPPING FOR A HOME
So now you really begin house-hunting. Your real estate
broker will be able to find listings for you. But don't stop there! You can do your own looking, and
then ask your broker to show you the house. Pick up real estate flyers at local grocery stores and
convenience stores. Read the real estate sections of your local
newspaper. Drive around neighborhoods that interest you and
write down addresses where there are "for sale" signs.
HOME INSPECTIONS
When you make an offer on a home, it's a good idea to make
your offer contingent on a home inspection, conducted by an
independent authorized inspector. If you are satisfied with the
results of the inspection, then your offer can proceed.
APPRAISALS
Your lender will require you to get an appraisal of
the house you want to buy, to make sure it's worth the money
that you're borrowing. You
may ask your real estate broker to help you take care of that.
HOMEOWNER'S INSURANCE
Lenders require that you have homeowners insurance, to
protect both your interests and theirs. Like everything else, be
sure to shop around for insurance that fits your needs.
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