real estate

5 tips for the first-time homebuyer

Skip the starter house
Skip the starter house

First-time homebuyers understandably want to purchase their dream house, though most have to settle for something less than pure fantasyland, according to Greg Cook, a loan consultant at Guild Mortgage Co. in Temecula, Calif.

Still, brokers say fallen prices and low interest rates have empowered more buyers to skip the traditional small starter house in a less desirable neighborhood, and instead buy what used to be considered a trade-up house right out of the homeownership gate.

"The decline in property values has made some really nice houses very affordable," Cook says.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

Polyana da Costa

Lame jobs report great for borrowers

The August employment report was a disaster, but that's good news for those looking to get a mortgage.  ... Read more

advertisement
Partner Center
advertisement

Connect with us