My husband and I are close with a couple who has just made their first home purchase. When they decided on purchasing this home they sat down and discussed the area that they would feel comfortable living in, as well as shopping and raising a family. Once they decided on the best location to purchase their new home, they finally purchased a contemporary ranch style home that fit their needs, both financially and personally.
With prices of homes and interest rates be the lowest they have been in years this was an excellent time for them to purchase their new home. On top of the already low home price, they were also given an $8,000 first time home buyers grant from the government. It was easy for them to see that it is a “buyers market” and they were smart to jump on the chance to get a dream home at an affordable price.
Once a decision was made to purchase a specific home, our friends become very busy. They needed to shop for mortgage quotes to be certain that they were obtaining the best possible mortgage rates with the terms that they wanted. They found a large difference in the closing costs and number of points charged by different lenders, but finally settled on a local bank that offered them good rates and terms with lower closing costs and no points to be paid. They have a good credit rating so they were confident that they would be approved for their mortgage loan.
The next step for our friends was to find a Homeowner’s insurance policy as required by the bank. Of course, this is a policy that every homeowner should have even if there is no existing mortgage. It is the best way to protect what is the most important asset of many families. Again, comparison-shopping was necessary as there are many types of home insurance policies, and premiums can vary greatly by company. They checked with a number of companies and finally located one who provided the exact type of policy that they wanted for a reasonable premium.
When the above was taken care of, it was time to choose specific items for their new home, set up appointments for utility connections, telephone service, etc. They just went to closing on their new property and, as promised, we helped them move in last weekend. We really enjoyed seeing how happy they were with their new home. This is a very exciting time in a family’s life and it was very nice to be a part of it.
If you are shopping to purchase homeowners insurance or to obtain home equity line rates the best online site to utilize is www.quotefinancial.com.
Related posts:
