First house

also, if you’re going through a realtor, you can ask that the seller of the home pays half the closing costs, or inspections.. thats a huge help.. make sure you evaluate the intrest rate as well.. they’ll sometimes try to stick you with a variable rate.. DON’T DO IT!.. those things climb up 1/2 a percent and raise your mortgage on a yearly basis.. ALWAYS go for a fixed rate.. then when rates go down, you can refinance, most of the time for free.. if you’ve got excellent credit, don’t let them screw you over.. you want 6% intrest or lower.. its a bargaining tool that will work in your favor.. also be very careful of the lender.. if you’re getting a FHA loan, they will force you to let them pay property insurance and taxes.. keep an eye on your mortgage bill to make sure thats done on time.. I’ve heard about mortgage companies not paying the property taxes for 3 years and the house getting put into a sherriffs auction before the home owner could pay the taxes themselves.. also.. when looking at a home.. check the foundation.. cracks in the foundation are bad news.. even hairpin fractures cause issues in later years..

make sure its at 6% , but the annual mortgage is based on what your gross income is. lets say its $4000 per month , and your down payment on a house is 20,000$ but the house costs 165k, for a 6% rate for 15 years is 8.40.