Homework Essential to Successfully Buying Your First Home

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(ARA) – Across the country, many Americans still believe that owning a home represents the American dream, and many are thinking about taking the plunge and buying their first home.

If you are ready to make the jump, here are some tips from FindLaw.com, the world’s leading online source for legal information, on how to prepare to successfully purchase your first home.

Obtain your credit report: Learn what your credit score currently is and correct any mistakes you may find on it.

Become familiar with mortgage terms and conditions: Never sign any legal documents, including a mortgage, if you don’t clearly understand the terms and conditions of the contract.

Shop around: Contact at least three financial institutions to obtain information on mortgage rates, terms and conditions for a first-time homebuyer.

First-time home buying programs: Look into local, state and federal programs that may offer financial assistance to encourage first-time homeownership.

Hire an attorney: Consider hiring an attorney who specializes in real estate law to review and possibly negotiate your offer to the seller, to review your mortgage and closing documents and to be present and represent you at the closing.

For more information and tips on buying or selling a home, visit www.findlaw.com.