Buying a New home, Burden or Blessing?

When you are buying a new home it is up to you as the borrower to determine if it will become a burden or a blessing. Are you buying too expensive of a home? Do you need as big of a home? Will it stretch your budget to the limit? Are you getting a 100 LTV or Arm just to afford the payments? If you answer yes to any of these questions then your new home could easily turn into a HUGE burden. Buy what you can afford NOW not what you think you might be able to afford later down the road. Do not count on the big raise or bonus that may not happen. Save for at least a 5% down payment and work on getting your credit to 630+. So have you been saving up for that 5% down payment? We love the program at Emigrant Direct. It pays 4.5% and moves up as rates go up. You can cut corners and go on a budget and make it happen. Have you been working on those credit scores? If you are working on your credit you need to stay on top of it by checking it at My Fico.Com or Equifax. Then that new home will really be a blessing you will truly enjoy. www.rateinformer.com