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Sunday, November 1, 2009

The Perfect Time Get A Mortgage For First Time Home Buyer

By Dan Westwood

Are you bored of paying someone else's mortgage, rather than your own? Then you need to purchase your own home. Right now it is a purchasers market, and it has never been more simple to find a home and obtain a mortgage.

Owning a home gives you the privacy to do what you want. You will no longer have a roommate that possibly will rob your possessions, nor will you have a weird land lord that checks up on your apartment without notice. The privacy that owning your own home gives is inestimable.

What's that sound? That's right, there isn't any! One of the first things you will notice after you move into your first home is that you can't hear your loud neighbors that rent up above you. Similarly when you own your own home, you don't have to be concerned about how loud you are. You will not have people that live above, below, or to the side of you. You might make as much noise as you want, within the limit of the law. While this may be taken for granted now, once you move into your home you will never want to go back to renting.

Owning your own home can be a significant investment in time and money not only on the mortgage itself but on upkeep. However when you own your own home you are building equity when you pay your mortgage every month.

When it comes time to sell your home and move, you will in fact leave with more money than you started with. You'll as a result be able to have a larger budget on your subsequent home.

Now that you know the reasons to purchase a home, you should get pre approved for a mortgage. Go to your bank and speak to a mortgage rep. They will be able to walk you through the procedure.

Once you have been pre approved for a mortgage, you can then contact a real estate agency and get a purchasers agent. The purchasers agent is to help you find the sort of property you are keeping an eye out for, however most importantly is within your costing. After closing on the property and moving in, you'll never rent again. - 23208

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