homepath: What is a HomePath Mortgage? – Fannie Mae - 05/30/10 11:08 AM
It is important for you to understand the mortgage process and all of the options available to you.  Rate are low, inventory is high and there are many types of homes for sale:  foreclosures, short sales and resales.  You should interview several lenders (bankers, brokers, etc) prior to your home search. 
You need to know:
What your purchasing power is - how much house can you get for the monthly payment you want? Understand the costs of buying - cost of the loan, attorney's fees, downpayment, cash to close, apprasial. What is the difference in APR and APY? What is PMI? … (2 comments)

 

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