100 Questions About Purchasing a Home

HOW DO I KNOW IF I'M READY TO BUY A HOME?
HOW DO I BEGIN THE PROCESS OF BUYING A HOME?
HOW DOES PURCHASING A HOME COMPARE WITH RENTING?
HOW DO I SELECT THE RIGHT REAL ESTATE AGENT?
HOW CAN I DETERMINE MY HOUSING NEEDS BEFORE I BEGIN THE SEARCH?
WHAT SHOULD I LOOK FOR WHEN DECIDING ON A COMMUNITY?

FINDING YOUR HOME

WHAT SHOULD I DO IF I'M FEELING EXCLUDED FROM CERTAIN NEIGHBORHOODS?
HOW CAN I FIND OUT ABOUT LOCAL SCHOOLS?
HOW CAN I FIND OUT ABOUT COMMUNITY RESOURCES?
HOW CAN I FIND OUT HOW MUCH HOMES ARE SELLING FOR IN CERTAIN COMMUNITIES AND NEIGHBORHOODS?
HOW CAN I FIND INFORMATION ON THE PROPERTY TAX LIABILITY?
WHAT OTHER TAX ISSUES SHOULD I TAKE INTO CONSIDERATION?
IS AN OLDER HOME A BETTER VALUE THAN A NEW ONE?
WHAT SHOULD I LOOK FOR WHEN WALKING THROUGH A HOME?
WHAT QUESTIONS SHOULD I ASK WHEN LOOKING AT HOMES?
HOW CAN I KEEP TRACK OF ALL THE HOMES I SEE?
HOW MANY HOMES SHOULD I CONSIDER BEFORE CHOOSING ONE?

YOU'VE FOUND IT

WHAT DOES A HOME INSPECTOR DO, AND HOW DOES AN INSPECTION FIGURE IN THE PURCHASE OF A HOME?
DO I NEED TO BE THERE FOR THE INSPECTION?
ARE OTHER TYPES OF INSPECTIONS REQUIRED?
HOW CAN I PROTECT MY FAMILY FROM LEAD IN THE HOME?
ARE POWER LINES A HEALTH HAZARD?
DO I NEED A LAWYER TO BUY A HOME?
DO I REALLY NEED HOMEOWNER'S INSURANCE?
WHAT STEPS COULD I TAKE TO LOWER MY HOMEOWNER'S INSURANCE COSTS?
IS THE HOME LOCATED IN A FLOOD PLAIN?
WHAT OTHER ISSUES SHOULD I CONSIDER BEFORE I BUY MY HOME?
HOW DO I MAKE AN OFFER?
HOW DO I DETERMINE THE INITIAL OFFER?
WHAT IS EARNEST MONEY? HOW MUCH SHOULD I SET ASIDE?
WHAT ARE "HOME WARRANTIES", AND SHOULD I CONSIDER THEM?

GENERAL FINANCING QUESTIONS:THE BASICS

WHAT IS A MORTGAGE?
WHAT IS A LOAN TO VALUE (LTV) HOW DOES IT DETERMINE THE SIZE OF MY LOAN?
WHAT TYPES OF LOANS ARE AVAILABLE AND WHAT ARE THE ADVANTAGES OF EACH?
WHEN DO ARMS MAKE SENSE?
WHAT ARE THE ADVANTAGES OF 15- AND 30-YEAR LOAN TERMS?
CAN I PAY OFF MY LOAN AHEAD OF SCHEDULE?
ARE THERE SPECIAL MORTGAGES FOR FIRST-TIME HOMEBUYERS?
HOW LARGE OF A DOWN PAYMENT DO I NEED?
WHAT IS INCLUDED IN A MONTHLY MORTGAGE PAYMENT?
WHAT FACTORS AFFECT MORTGAGE PAYMENTS?
HOW DOES THE INTEREST RATE FACTOR IN SECURING A MORTGAGE LOAN?
WHAT HAPPENS IF INTEREST RATES DECREASE AND I HAVE A FIXED RATE LOAN?
WHAT ARE DISCOUNT POINTS?
WHAT IS AN ESCROW ACCOUNT? DO I NEED ONE?
WHAT STEPS NEED TO BE TAKEN TO SECURE A LOAN?
HOW DO I CHOOSE THE RIGHT LENDER FOR ME?
HOW ARE PRE-QUALIFYING AND PRE-APPROVAL DIFFERENT?
HOW CAN I FIND OUT INFORMATION ABOUT MY CREDIT HISTORY?
WHAT IF I FIND A MISTAKE IN MY CREDIT HISTORY?
WHAT IS A CREDIT BUREAU SCORE AND HOW DO LENDERS USE THEM?
HOW CAN I IMPROVE MY SCORE?

FINDING the RIGHT LOAN for ME

HOW DO I CHOOSE THE BEST LOAN - PROGRAM FOR ME?
WHAT IS THE BEST WAY TO COMPARE LOAN TERMS BETWEEN LENDERS?
ARE THERE ANY COSTS OR FEES ASSOCIATED WITH THE LOAN ORIGINATION PROCESS?
WHAT IS RESPA?
WHAT IS A GOOD FAITH ESTIMATE, AND HOW DOES IT HELP ME?
BESIDES RESPA, DOES THE LENDER HAVE ANY ADDITIONAL RESPONSIBILITIES?
WHAT RESPONSIBILITIES DO I HAVE DURING THE LENDING PROCESS?

CLOSING

WHAT HAPPENS AFTER I'VE APPLIED FOR MY LOAN?
WHAT SHOULD I LOOK OUT FOR DURING THE FINAL WALK-THROUGH?
WHAT MAKES UP CLOSING COST?
WHAT CAN I EXPECT TO HAPPEN ON CLOSING DAY?
WHAT DO I GET AT CLOSING?

HOW CAN HUD and the FHA HELP ME BECOME a HOMEOWNER

WHAT IS THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT?
HOW DOES HUD HELP HOMEBUYERS AND HOMEOWNERS?
WHAT IS THE FHA? HOW CAN THE FHA ASSIST ME IN BUYING A HOME? HOW IS THE FHA FUNDED?
WHO CAN QUALIFY FOR FHA LOANS?
WHAT IS THE FHA LOAN LIMIT?
WHAT ARE THE STEPS INVOLVED IN THE FHA LOAN PROCESS?
HOW MUCH INCOME DO I NEED TO HAVE TO QUALIFY FOR AN FHA LOAN?
WHAT QUALIFIES AS AN INCOME SOURCE FOR THE FHA?
CAN I CARRY DEBT AND STILL QUALIFY FOR FHA LOANS?
WHAT IS THE DEBT-TO-INCOME RATIO FOR FHA LOANS?
CAN I EXCEED THIS RATIO?
HOW LARGE A DOWN PAYMENT DO I NEED WITH AN FHA LOAN?
WHAT CAN I USE TO PAY THE DOWN PAYMENT AND CLOSING COSTS OF AN FHA LOAN?
HOW DOES MY CREDIT HISTORY IMPACT MY ABILITY TO QUALIFY?
CAN I QUALIFY FOR AN FHA LOAN WITHOUT A CREDIT HISTORY?
WHAT TYPES OF CLOSING COSTS ARE ASSOCIATED WITH FHA-INSURED LOANS?
CAN I ROLL CLOSING COSTS INTO my FHA LOAN?
ARE FHA LOANS ASSUMABLE?
WHAT SHOULD I DO IF I CAN'T MAKE A PAYMENT ON LOAN?
ARE THERE ANY OPTIONS IF I FALL BEHIND ON MY LOAN PAYMENTS?

MORTGAGE INSURANCE

WHAT IS MORTGAGE INSURANCE?
HOW DOES MORTGAGE INSURANCE WORK? IS IT LIKE HOME OR AUTO INSURANCE?
DO I NEED MORTGAGE INSURANCE? HOW DO I GET IT?
HOW CAN I RECEIVE A DISCOUNT ON THE FHA INITIAL MORTGAGE INSURANCE PREMIUM?
WHAT IS PMI?

FHA PRODUCTS

WHAT IS A 203(b) LOAN?
WHAT IS A 203(k) LOAN?
WHAT IS AN ENERGY EFFICIENT MORTGAGE (EEM)?
WHAT IS A TITLE I LOAN?
WHAT OTHER LOAN PRODUCTS OR PROGRAMS DOES THE FHA OFFER?
HOW CAN I OBTAIN AN FHA-INSURED LOAN?
HOW CAN I CONTACT HUD?