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Home Purchase Resources
The Dos and Don’ts of a Home Purchase
Purchasing a home is an exciting and important time in your life. However there are specific ways to purchase a home and ways not to purchase a home.
Bills.com can help you clearly understand the Dos and Don’ts of a home purchase. There are loan considerations, real estate agent selection, home loan terms, and other details to keep in mind. And there are Dos and Don’ts for all details.
Home Purchase Dos on Bills.com
Use the Bills.com Savings Center to find great loan rates. Browse through the Bills.com articles, FAQs, calculators, and home purchase guides to get you up to speed on home loan news and information. If you're looking for a great interest rate, a lender who will partner to meet your needs, or information on how to find, apply for, and secure a home purchase loan, Bills.com is your one-stop online resource.
Bill's Expert Advice
Home Purchase Stories
Read a personal story about a family and their home purchase loan, and gain a better understanding of what’s involved.
Home purchase success story
Home Purchase FAQs
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For My Home Purchase, How Much Money Should I Put Down?
When it comes to purchasing a home, the rule of thumb is to put down 5%, 10%, or 20% of the sale price. Typically lenders want to see between 10% and 20% put down on traditional loans. In any regard, the more you put down, the lower your mortgage payments will be. -
How Do I Figure Out How Much I Can Afford To Spend On A Home?
The amount you can afford to spend on your new home depends on a number factors, such as your income, your current level of debt, your credit score, and other financial factors. -
Before I Start Looking, What Details Should I Have On Hand for a Home Purchase?
Before you even think about purchasing a home, you need to do the following: itemize your debt, list your assets, and know your credit score.
Home Purchase Calculators
Today's News
Interest Rate Roundup
Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts.
bankrate.com
Interest Rate Roundup
Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts.
bankrate.com
Glossary of Home Purchase Terms
ARM (Adjustable Rate Mortgage) : a type of mortgage where the interest rate fluctuates based on the specified index. Adjustable rate mortgages can be unpredictable when it comes to fluctuating interest rates.
APR (Annual Percentage Rate) : the percent of a mortgage, based on interest, mortgage insurance, and loan origination fee (points), established as a yearly rate.
Points : charges levied by the lender that are normally payable at closing. One point typically equals 1% of the value of the loan.
Escrow : the end of the mortgage process where a neutral third party holds the documentation and money involved in the transaction until the transaction is complete.
Closing Costs (settlement costs) : the dollar amount paid to cover the transfer of ownership at closing.
Average Mortgage Rates
| program | apr |
|---|---|
| 30 Yr Fixed | 6.4% |
| 15 Yr Fixed | 5.92% |
| 30 Yr Fixed Jumbo | 7.57% |
| 15 Yr Fixed Jumbo | 6.93% |
| 3/1 ARM | 5.96% |
| 5/1 ARM | 6.07% |
| 7/1 ARM | 6.4% |
| 10/1 ARM | 6.64% |
| 3/1 ARM (I/O) | 5.89% |
| 5/1 ARM (I/O) | 6.12% |
| 7/1 ARM (I/O) | 6.47% |
Home Purchase Articles and Advice
How to Choose a Real Estate Agent
If you're selling a home, you need a licensed real estate agent. It is feasible to sell your home on your own (i.e. For Sale by Owner), but without the proper knowledge of how to sell real estate and the paperwork and procedures involved, you could end up shooting yourself in the foot.
Choosing a real estate agent
First Time Home Purchase Loan
Nothing can be more exciting & terrifying at the same time than buying your first home and applying for your first home purchase loan. If you want everything to go smoothly, follow these steps.
First-time home purchase loan
How to Apply for a Home Purchase Loan Online
Applying online for a home purchase loan is quite simple, if you know what to look for. Learn what you need to do to make your home purchase loan online search painless and simple.
Apply for a home purchase loan
How to Compare Home Purchase Loan Rates
Even if you know the importance of comparing home purchase loan rates, there are a few things that many people forget to take into consideration. Discover what they are.
Comparing home purchase loan rates
The Makings of a Good Real Estate Deal
If you're looking to purchase real estate to rent for investment purposes, but aren't sure how to identify a good real estate deal, there are a few things you need to educate yourself on before you make your purchase.
A good real estate deal
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