Bankate.com
 
News and AdviceCompare RatesCalculators
Glossary  |  Help  
 
 
- advertisement -
 

5 ways to save when buying a home

Understanding the mortgage process and trimming costs along the way is rough because most people don't buy homes often enough to know the savings tricks.

Bankrate's specialty is cutting the complicated mortgage process into pieces and finding ways for home buyers to save on their purchase.

 
Tips for big savings
1. If you are deciding whether to lock in an interest rate or float ...
Savings solution: Understanding how rate locks work will save money and heartache.
Avoiding common rate-lock mistakes
 
2. If you are wondering if the house is in good condition ...
Savings solution: A home inspection by a quality inspector can eliminate costly surprises after closing.
Hiring a home inspector
When a basic inspection isn't enough
 
3. If you don't have enough cash for a down payment ...
Savings solution: You may qualify for special down-payment programs, espcecially if you're a first-time home buyer.
Programs that cure the down-payment blues
 
- advertisement -
 
4. If you can only come up with 10 percent for a down payment ...
Savings solution: You'll have to buy private mortgage insurance to get into a home with less than 20 percent down, but it may be worth it.
PMI: What it is, how it works and how to work around it
 
5. If you want to know how much closing costs will be ...
Savings solution: Knowledge is power. Find out how to avoid last-minute closing-cost changes.
Prevent closing day disasters
 

 

 
-- Updated: March 27, 2003
   

 

 
 

 

Looking for more stories like this? We'll send them directly to you!
Bankrate.com's corrections policy
Print   E-mail
 

National Mortgage Rates
OVERNIGHT AVERAGES
Rates may include points.
30 yr fixed mtg 6.14%
15 yr fixed mtg 5.67%
5/1 jumbo ARM 6.35%



RELATED CALCULATORS
  Calculate your monthly payment  
  How much house can you afford?  
  Fixed or adjustable rate: Which is right for you?  
VIEW ALL 

BASICS SERIES
Mortgage Basics
Follow the process from house hunting
to closing.
How much can I afford?
How much is my payment?
What documents do I need?
What is a home inspection?
What is the closing?
Can I remove PMI?

MORE ON BANKRATE
Mortgage rates in your area  
Graph rate trends  
Credit scoring  
Mortgage basics

ADVERTISING PARTNERS

- advertisement -
 


- advertisement -


News & Advice | Compare Rates | Calculators
Mortgage | Home Equity | Auto | Investing | Checking & Savings | Credit Cards | Debt Management | College Finance | Taxes | Personal Finance
About Bankrate | Privacy | Online Media Kit | Partnerships | Investor Relations | Press/Broadcast | Contact Us | Sitemap
NASDAQ: RATE | RSS Feeds | Order Rate Data | Bankrate Canada | Bankrate China

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2008 Bankrate, Inc., All Rights Reserved, Terms of Use.