Buyer

• House buyers should have a job for at least two to three years. They should have a record of paying their bills on time and should not have any long-standing debt. Home buyers should have enough money saved up to make the down payment on the home. The buyer should also be sure that he can make the mortgage payment every month. The size of the house loan that the bank is willing to give the home buyer is based on the buyer’s debt-to-income ratio and the home buyer’s credit score.
  
  

Home

• For many buyers, the location of the home is important. They want to buy a house that is in a safe area and that is a reasonable distance from places that they have to travel to daily. Home buyers must also determine how big they want their home to be and whether they are interested in renovating the home. Home buyers should find out whether a home has any maintenance issues or quality of life issues.
  
  

Real Estate Agent

• A good real estate agent can be determined by whether the agent is willing to listen to the home buyer and has all of the resources to be able to adequately help the home buyer. Real estate agents should be able to give home buyers a rough estimate on how much they will need to pay on a house and how much the property taxes will be in a given area.
  
  

Buying

• Home buyers should always purchase homeowners insurance in order to close on the sale. Home buyers can usually negotiate down the sale price of the house, which is usually facilitated by the real estate agent.
  
  

Mortgage

• When acquiring the mortgage from the bank, the home buyer often gets to choose between a fixed rate or adjustable rate mortgage. Fixed rate mortgages give the home buyer a consistent mortgage payment, but adjustable rate mortgages often allow the home buyer to take out a larger loan and also allows for a lower initial interest rate. The interest rate is the amount that the bank is paid during the course of the mortgage.