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Special report
Ready for your first home

Ready for a home of your own

Tired of paying rent? Then consider buying your own slice of the American pie -- a new home. As a first-time home buyer, there is a lot to learn. Here are some financing options and tips for finding the best mortgage for you.

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Your first home ...

Pre-purchase counseling: Get help before you shop
Inexperienced home buyers no longer have to venture into the mortgage world unprepared. Pre-purchase counseling is now widely available -- and free -- thanks to the efforts of nonprofit groups, HUD and other agencies.

State help for home buyers
Housing finance agencies don't operate in the limelight. But home shoppers may want to look at the mortgages they offer. Often, their loans have lower interest rates, closing cost discounts and other benefits not available elsewhere.
PLUS: Search for your state's housing finance agency

Section 8 low-income vouchers now good for home buying
The Department of Housing and Urban Development's Section 8 program now helps renters buy homes.

Mortgage basics

How much house can you afford?

Check the national mortgage averages

 

-- Updated: Feb. 7, 2003
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See Also
Rich advice: Don't end up house poor
Agencies unite to boost minority homeownership
No-money-down home buying

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National Mortgage Rates
OVERNIGHT AVERAGES
Rates may include points.
30 yr fixed mtg 4.99%
15 yr fixed mtg 4.55%
5/1 jumbo ARM 4.71%



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