Whether your new home is a move up or it will be your very first home, buying a home is a big decision - possibly the biggest purchase of your life.

Buying a home is an important and big step in building your secure financial future. Because of some common misconceptions, many people believe homeownership is out of their reach. Don’t let these "urban-myths" keep you from the personal and financial rewards of living in your own home!

The rewards of owning your own home include many benefits unavailable to renters. Among other things, homeownership allows you to:

• Start building wealth: Making a mortgage payment every month builds up your equity stake in your home, contributing to your long-term savings and helping you solidify your financial future.

• Reduce your tax burden: The interest you pay on your mortgage is usually tax-deductible, which can lead to significant tax savings--especially in the early years of the mortgage term, when most of your monthly payments go toward interest. Make sure you consult your tax advisor about the deductibility of interest.

• Build your credit history: Timely mortgage payments can contribute to a positive credit history.

• Eliminate landlord hassles: You'll no longer have to fear non-renewed leases and rent increases.

• Make the house your own: Aside from zoning rules, Homeowner's Association requirements, and local building codes, you'll be free to decorate, remodel, and renovate as you wish.

Homeownership is about security, comfort, and fulfilling the American dream. The sense of community that comes with putting down roots in a place of your own, the security of owning the roof over your head, the opportunity for financial growth--all these accompany the choice to become a homeowner.

1-800MyMoney.com is dedicated to providing you with the best resources to help you. We have many and varied mortgage loan porducts specifically tailored to first-time home buyers as well as seasoned homeowners buying up to a larger home. We will help find the right and best loan for you as well as help you learn about the home buying process.

FTC Consumer Alert

 (Federal Trade Commission)

http://www.ftc.gov/bcp/menus/consumer/
credit/mortgage.shtm

Explains your rights under Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), and what to do if your loan is rejected.

Here are several misconceptons:

Can’t afford a down payment.
Today many first-time homebuyers make a down payment of 5% or less. We have loan programs that can help you buy a home without a lot of cash, or any at all.

Have less-than-perfect credit, so I can’t get a mortgage.
A less-than-perfect credit history doesn’t have to stand in your way of reaching your homeownership goals because we have a quality portfolio of mortgage loan programs.

Won’t be able to make my monthly payments.
Our goal is to help you succeed financially, so we’ll carefully review your loan options with you and help you choose the loan that’s right for you. With a loan that fits your budget and your financial goals, your home will be a powerful tool in building a secure future for you and your family.

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