Frequently Asked Questions about Buying Your First Home

 by: Damon Thomas

The idea of buying a new home for the first time can be overwhelming for most people. It is probably the largest investment they have ever made, and the process itself seems downright intimidating. Here are answers to a few questions about homeownership from www.casanuevahouston.com and www.casanuevasanantonio.com. Much more information is offered online at these websites.

How do I know how much I can afford?

Most people like to think of it in terms of their monthly payment. A good rule-of-thumb is that your total monthly payment will be about 1% of the purchase price. If a new home costs $100,000, the total monthly payment will be about $1,000.

What kind of down payment is needed? How much money is needed for closing costs?

With 100% financing, which is often available, you typically need about 3% out of your own pocket for various closing cost such as taxes and insurance. So, for a $100,000 loan that is 100% financed, you would need about $3,000 total cash. There are also home buyer assistance programs that can provide down payment grants to qualified applicants.

How much income do I need?   (continued...)

Frequently Asked Questions about Buying Your First Home
  Page 2

About The Author

Damon Thomas is a contributor to www.casanuevahouston.com, a Houston-based company providing information for new home buyers.




Additional Government Grants Resources


Migratory Bird Joint Ventures: Playa Lakes Joint Venture Base Operations
The Southwest Region of the US Fish and Wildlife Service is now seeking applications and proposals for the start of base operations, that is core support staff activities and functions, for the Playa Lakes Joint Venture partnership.


Finding Federal Grants for Woman Owned Businesses
There are many U.S. government grants that are available today. American citizens are not just aware or familiar with it because there is not advertisement about it. This is probably because there are no funds allocated for such announcements....


National Endowment for the Humanities: Sustaining Cultural Heritage Collections
The Sustaining Cultural Heritage Collections(SCHC)program aims to help in tackling the complex challenge of preserving vast and diverse holdings of humanities materials.


First Time Homebuyer Programs in Idaho
The Idaho Housing and Finance Association, otherwise referred t as IDFA, is Idaho's uniquely created and organized financial institution and administrator of affordable housing resources.


Department of the Interior: Community History of Former Village Sites in the Nabesna District Project
The article is about the Department of the Interior's Community History of Former Village Sites in the Nabesna District Project


Nursing Degree Applications Up, But Demand Still Exceeds Supply
For the fifth year in a row, applications have increased for schools offering a nursing degree according to American Association of Colleges of Nursing. Unfortunately this continuing increase still c...


Behavioral Interventions to Address Multiple Chronic Health Conditions in Primary Care Program
The National Institutes of Health has recently established the Behavioral Interventions to Address Multiple Chronic Health Conditions in Primary Care Program wherein it intends to utilize common conceptual models in creating independent interventions that will contribute to the modification of health behaviors and the improvement of health outcomes in patients diagnosed with co-morbid chronic diseases and health conditions.





In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.





Not Ready to Buy Yet?

Find Rental Assistance Programs



Need Repairs for a Home You're Buying?

Find Out About Rehabilitation Money Available







More Federal Domestic Assistance Programs


 | Reimbursement for Firefighting on Federal Property | Learn and Serve America Innovative Community-Based Service-Learning Programs | Rural Housing Stability Assistance Program | PPHF-2012: Health Care Surveillance/Health Statistics Surveillance Program Announcement: Behavioral  |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2025 Copyright Michael Saunders