A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1.  Know thyself.

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2.  Research before you look.

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four…

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Understanding Real Estate Closing Costs and ProrationsIt's very common to see a purchase contract with provisions for prorations. This type of contract should be read closely and you should understand the prorations before signing. It may even be necessary to request a change to the verbiage used for the prorations.

Most of the time, the buyers are the ones responsible for the prorations. These changes will often show up as a debit on the closing statement for the buyer and will be a credit on the sellers closing statement.

Prorations usually increase the net profits of the seller and they cover items which were prepaid by the seller for a time when the seller won't own the property.

Prorations for Mortgage Interest

Sometimes, you will need to understand what the mortgage interest…

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Once you are approved for your home loan, packing up your house and preparing for the movers might set your mind at ease. But in reality, this is the time that you need to pay extra attention to your lifestyle and how you spend.

Although you have already made good on a down payment and disclosed your earnings history, a diligent lender will recheck your credit right before your settlement date.

Lenders will look to you to assure them that “nothing has changed.” Those exact words. Some precautions to consider before you finalize the big move:

  1. Avoid Applying for New Credit: You may be tempted to open a new line of credit, for instance at a home center or large retail chain, to furnish and update your new home. But just the act of applying for a…

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