Mortgage rates drop to a fifty year low

"Even with amazingly low interest
rates, lower home prices and the
first-time homebuyer tax credit,
it is unlikely that we will see
an increase in overall home sales
until we see some stabilization of
employment.

Preparing For Home Ownership

• Rent vs. Buy
  Understand the financial differences between renting and owning.
• Tax Savings
  Learn about the potential tax savings with homeownership.
• How Much Can You Afford?
  Research how much house works within your budget.
• How Much Can You Borrow?
• Learn how much money you might be able to borrow.

The Quick/Easy Mortgage Calculator

All About Mortgages(Source Freddie Mac)

• Fixed or Adjustable-Rate?
  Understand the financial differences between the fixed- and adjustable-rate mortgage.
• Adjustable-Rate Mortgages
  Find out how much monthly mortgage payments might be with an adjustable-rate mortgage.
• Fixed-Rate Mortgages
  Find out how much monthly mortgage payments might be with a fixed-rate mortgage.
• 15-year or 30-year Term?
  Learn how a different term affects your mortgage payment and overall cost of the loan.
• Down Payments
  Research how much of a down payment you should consider.
• Closing Costs
  Estimate what your closing costs might be.
• Extra Payments
  Learn how advantageous extra monthly mortgage payments might be.
• Paying Points
  Find out how paying extra points might lower your mortgage rate.
• Mortgage Insurance
  Understand how to possibly reduce mortgage insurance.

Purchasing A Home, and Avoiding Foreclosure

• Refinancing Costs
  Understand what your refinancing costs might be.

*Used with Permission from Freddie Mac