Buying your first home can be a challenging thing. There are many things that go into buying a house that the first time home buyer may not know about. One thing that goes into buying a home is a down payment. A down payment is money you put up front to buy the house. The more money you put up front the less you will have to pay back to the bank. Another thing that a first time home buyer may not know about is a mortgage. A mortgage is a monthly or bi-weekly payment to a bank for loaning you money to buy real estate. This loan is back by the house so if you miss any payments the bank will usually take the house away from you. Another thing when it comes to mortgage is interest rates. The higher your credit score is, usually the lower the interest rates will be on the mortgage.
The reason for interest rates is because the banking system is dishonest. Most nations of the world have a central bank. The central bank is a private corporation owned by a few, which prints or issues money out of thin air and loans that money to a nation. This brings down the standard of living in that nation because most of the taxes go to paying the interest on the loans to the central banks; also this practice taxes most people unknowingly through inflation. The money that these central banks create is not backed by anything like silver or gold. If there were no interest rates charged to you or the nation you live in, the money would become worthless too fast and the central banks would lose the power they have over you and over your nation.
The less you pay in interest rates the lower your monthly payments will be. If you do get a mortgage make sure it’s a fix rate. This means the payments remain the same amount from month to month throughout the life of the loan. Buying your first home can be a stressful time, but if you use some of the information here it can make the situation a bit easier.
Thursday, August 20, 2009
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