Miami Beach, FL (PRWEB) August 5, 2008
Buying a home is an exciting and important life event. Being a first time home buyer means that you will have many decisions to make — and just as many questions that need answering. That is why Fizber.com, a real estate search engine site, is offering three home buying secrets that most first time buyers don’t know.
Buying your first home is a huge step. These helpful home buying tips may reduce confusion about mortgage payments and the cost of buying a house:
1. Get preapproved
Buyers should always get preapproved before they begin house hunting. Buyers should get a written preapproval from a reputable mortgage lender before they start shopping for a home.
2. Calculate your mortgage payments
Buyer’s mortgage payments might be the same or less than rent payments. The (principal and interest) monthly payment on a $ 200,000, 30-year, fixed rate mortgage with an interest rate of six percent (6.25%) is $ 1,231 — less than what some people pay for rent (taxes, insurance and any other fees, including closing costs, are extra).
3. Share closing costs
Buyers may ask sellers to pay for closing costs. As part of the negotiating process when buying a house, the buyer may ask the seller to pay for a percentage of the non-recurring closing costs, sometimes saving thousands of dollars for the buyer.
With home listings throughout the United States, Fizber.com strives to connect buyers and sellers more effectively. The site offers to list for-sale properties on a multiple listing service for a $ 349.95 flat fee, to submit property ads to a variety of property search engines for a $ 299.95 flat fee, and a package of both services for $ 499.95. Prospective homebuyers can browse property database, available at http://www.Fizber.com, at no charge. View Lincoln, DE homes for sale.