Your Down Payment Should Not Get You Down!

Putting a down payment on a house is starting a new life. I remember buying my first home. It was spring time when I found myself putting a down payment on a house for me and my wife and I just could not believe it was actually happening. Everything seemed so much sweeter and there was music in the air. But that may have just been the tweeting Robbins of New England.

Putting a down payment on a house is not all magic and singing birds. The California Association of Realtors, for example, expects thee prices of homes to continue to rise throughout the end of 2013.

Buying a home can become rather financially devastating, depending on your budget. Home loan lenders all seem out to take advantage of your time in need, and mortgage loan interest rates can be so high that you would rather crawl into a cardboard box on 32nd street.

Do not resort to homelessness just yet. Doing a little bit of research can ensure that you are well equipped when it comes to putting a down payment on a house. Learn about everything there is to learn about, such as down payment assistance programs, and how to find the right mortgage lender.

It is recommended that when you are looking at various homes that you bring a digital camera with you. Take pictures of each unusual feature of each home and create a folder on the computer to keep them organized. This will make the decision making process a trifle easier on you.

In October, 2012, home sales in California were up 25.2% from October of 2011, making that a five year record high for home sales. Clearly, high mortgages and the expensive nature of putting a down payment on a house has not been deterring people from pursuing the American Dream.

If you are not capable of paying the often high price of putting a down payment on a home, perhaps the FHA can be of some assistance. The FHA requires a down payment of just 3.5% of the total purchase price of the home. This is a fraction of what is typically required for putting a down payment on a house, and can be extremely advantageous if you need to buy some time and a house at the same time.