How to buy a house RissaBbyGurl TTC since Dec 2013; 1 child; 1 angel baby; Arizona 531 posts20th Sep
I'm just curious because I'm not sure how buying houses work. I won't be able to buy one for awhile, but do you use a loan for purchasing the house then pay off the loan monthly? Since I don't know how we would save up THAT much money haha. Sorry if I sound like an idiot, I'm not sure how it works :c
la_mas_hermosa Due July 22; 17 kids; Minneapolis, Minnesota 6095 posts20th Sep
In a nutshell, yes. That is typically what happens. Look in your area for first time homebuyers workshops, they provide all the info you need for the entire process
Red Bottom 1 child; Middelfart, Denmark 14387 postsstatus 20th Sep
You apply for a home loan through the bank. Depending on your credit and income, they let you know how much you qualify for, then you get a house within that price range. Your mortgage is divided by 30 years. And you pay on that monthly for 30 years.
user banned 2 kids; Medina, New York 1612 posts20th Sep
And you can get escrow so then you don't have to worry about paying taxes every year but that's optional.