Great info in here.

I'm no realtor, but here's my scenario and take whatever is useful to you. Once you're set on making a commitment on a home, research your budget and use current market terms to decide how much house you can comfortably afford. Please understand that unlike an apartment, you will be paying for any and every utility imaginable. Then go find the home for you. I chose a home in a brand new subdivision outside of the metropolitan area but close enough to still be active. I bought my first home under the FHA First Time Home Buyer Program, no down payment or closing cost (5.75% Fixed Rate). The on-site realtor was amazing, she explained several types of loans that I qualified for from A - Z and even elaborated on the one that would be more beneficial to me. At the time the adjustable rate was only slightly lower than the fixed, so I'm not understanding how so many people fell for it. Yet I am witness to the effects of it. My house was one of the first 5 out of 20 on my street to get completed and purchased. However, when I moved last month I was the only original homeowner remaining. With so many for sale signs and new people moving in, I opted out before the rift raft start making there way in. BTW, a year after my home was built a brand new elementary school was built within walking distance. My property values has gone from 150K to 175K, house sold for 169K........