Are you looking to purchase your first home?   Need to get the basics on homeownership and if it makes sense to own-vs-rent?   Well you are in the right place.      This is a quick reference guide to first time homebuyers and experts alike.  We answer some common questions people have and we seek to provide the building blocks you need so that your foundation in home buying is savvy and that you leverage the resources you have in the process.        Home buying typically requires financing from a bank or mortgage company.   The process of obtaining financing today is relatively easy compared to many years ago.   What used to take months to approve, now takes literally minutes.    What is most important before purchasing a house is to know what your credit score is and how you can improve it prior to purchasing.  Why is your credit score important?   Banks tend to give better rates to customers with a higher credit score and higher interest rates to those with lower credit scores.   If you pay your bills on time and don't maintain a balance on your credit cards, then generally speaking you should have decent credit. Credit ratings vary between  300-850 and help lenders determine your credit risk.  Scores ranging from 680-850  are considered to be good -excellent credit.       Do you know your credit number?  Its easy and quick to obtain your credit report,  Do you know what’s in your credit report? Find out instantly with Identity Guard       In this essential  143 page guide Credit Scoring Secrets Revealed, you will learn excellent strategies to getting more money for less so that you can afford the big dream home you have your eyes on.           Once you have your credit report and your secure with Identity Guard, your ready to apply for a loan at the bank or Mortgage Company.  Apply for a  30 Yr Fixed Rate loan and don't be tempted by Adjustable rate mortgages or  Interest Only Loans.  Once you are approved and your living in that dream home, then if you can afford to do so, make one extra payment towards your principle every December and you will effectively pay your loan off in 18 years vs 30 Years.. GOOD LUCK.OWNING HOMES! Copyright 2006 -OwningHomes.com all rights Reserved.  Please email us with your feedback at info@owninghomes.com