Buy House Through Rent to Own

Buying a house through rent to own is a wise thing to do. This is like investing while using it. You get a chance to live in your house with a minimal investing money as your rent payment. The total cost of the house plus interest will be divided on the years you and the owner agreed to.  All you need to do is find a rent to own house then talk to the owner and that's it. Just make sure that you will be able to pay your rent because if you don't, most of the owners rights include making the deal off if you are unable to pay your rent for some consecutive months. Much worst you will go to jail.

Investment Thru Rent to Own. More people do to have investment with rent to own is that they search for boarders, the rent paid by boarders will be their rent to the owner of the house. This makes them worry less because they will lessen they're rent cost at the same time they will be closer to buying they're house through rent to own.

Factors to Buy a House

Planning to buy a house? I think you should consider some important factors before you buy your house. Its not just a simple decision making whether you buy this or that or here or there. I research some data about some factors that could help you on deciding when, where and how to buy your house.

First, consider your budget. The size and cost of your prospected house to buy must depends on the size of your budget. You must not only consider the total amount of the house, you should also consider the maintainability of it. Big house means bigger maintenance cost.

Second, consider the place to build your house. This is one of the important factors to consider. You should decide where you want to put your house at. It would be better to build your house near the market, mall, your work area, church or national road.

Third, security. Yes, you've chosen a place to build your house, but have you to scout first on your neighborhood. Security should be on your list to consider where to build or buy a house. Can you live on a place full of burglars and hoodlums? Think about it.

To Loan House

    To loan house is one of the most accepted way on how to have a house. You can have a mortgage, its what you call the loan from a bank. Lender is what you called the bank who gives you the loaning money. Loaning from a bank gives you the amount of money you need to buy your house. Payment should be made after the deal is done. The amount you pay to the bank each month is your mortgage payment.
    And each month you also need to pay for the interest, every bank differs from the rate of interest they require, rate of interest on the loan is what you call the mortgage rate or the interest rate. There are no risk from house loan, provided that you pay your mortgage payment or else the bank will reposse the house. So be sure that you can pay a house loan before you apply.
    I have here some tips for you if you are a first time house loaner. This will help you prepare yourself so you will make sure that you get your house loan.

Gather savings and Pay Off . Although you will gonna get your house from a loan you still have to have a savings, this is for the down payment. The larger the down payment the better because this means the less you will pay for the interest.Also, you will have equity before you even move in to your new home. In addition, you should get as much of your other debts, such as credit cards, paid down in order to up your FICO score and free up credit for your home. The less money you owe, the more money you will be able to borrow, and the better your interest rate will be.

Choose a Bank and Get Approval. You should get a credit approval letter from a bank or lender before you begin looking for a new home. You can go to your choosen bank or lender and fill out their application. After that they will perform some investigation about your financial background to determine how much money they are willing to lend. Some details about the process wont be open to you before they approve your loan such as interest rate until final negotiations. Your credit must be approved before you can seriously begin your housing search.

Choose Your House. When your loan are approved and you have your approval letter its time for you to find a house. You should choose a house that meets the limits provided by the bank or the lender. Once you had chosen your house you may negotiate to the owner or the real state agent. Once the price is settled the bank will request an appraisal and start processing your loan. And that's it, you have your new house.

How To Buy A House

How to buy a house depends on what way you plan it to be yours. I included some ways that could help on how to buy a house.

Savings. Many people only decides on when to buy a new house when they already have the right amount to buy it. It is better when your budget is bigger than what your house cost because you have more options on what to add for decorations. Just make sure that you have extra savings for you to maintain your house, there's no long lasting house if you cant maintain it.

Loan. This is also one famous choice upon trying to buy a house. More people consider this if they dont have that amount of savings. Al you need to have is an institution where you could apply for a housing loan. Banks are the number one source for housing loans. Many banks offers different kinds of housing loan terms, its up to you on what kind of housing loan you would choose. For more information about this you could go to your trusted bank and ask for the housing loan they can offer.
    There are also government sectors that offers this kind of loan; its just depends on where country you are at. If you live in the Phillipines you can go to Pag-ibig to check if you are qualified for their housing loans.

Sell and Buy. This option is considerable if you want a new house and you have an old one. You can sell your house and the money you get is what you can use to buy a new one. Well it depends on what kind and condition your house is.