First time house buyer tips can save time, money and frustration – as long as the information comes from a reputable source. With today’s technology, home buyers can conduct research; locate homes for sale; apply for mortgage loans; and purchase homeowners insurance while sitting in front of the TV.

Late night infomercials offer an abundance of first time house buyer tips. Not only will these real estate gurus teach you how to buy a cheap house, they’ll also show you how to become a real estate investor. While TV and the Internet can be useful sources of information, it is important to make certain the provider is a reliable source.

As a first time home buyer, it is imperative to become educated about all aspects of buying a house. After all, this is the most important financial decision you will ever make. Millions of homeowners were duped into buying houses they could not afford. Subprime lending practices have nearly bankrupted the housing and lending industries. Buying a house today is not the same as buying a house two years ago.

On the flip side, new opportunities exist offering first time house buyers additional incentives. Buyers that have not purchased a home within three years, qualify for the Federal Housing Tax Credit of up to $8000. However, this credit is set to expire on April 30, 2010.

The U. S. Department of Housing and Urban Development offers homeownership vouchers and incentives for purchasing HUD homes. Their website is one of the most credible and authoritative housing websites.

HUD provides a wealth of buying and selling information, approved housing counseling agencies, approved lenders, assistance programs, real estate brokers and agent. An entire section is devoted to purchasing HUD homes; many of which are offered at savings up to 50-percent.

Realtors can provide a wealth of first time house buyer tips. These professionals are honed in on the market and can quickly locate properties which fit your budget and lifestyle. Realtors have the inside scoop on bargain properties such as foreclosure, bank owned or short sale properties. Many real estate professionals offer first time buyer seminars to attract new clients.

Home buying seminars usually last a few hours. Agents provide attendees with tips and resources pertinent to the local real estate market. Some seminars focus on purchasing distressed properties such as foreclosure homes. Others teach buyers how to capitalize on short sale properties. Often, home builders will partner with realtor seminars to sell homes in newly established communities.

Mortgage brokers are another reliable source for first time house buyer tips. It is best to work with brokers certified through the National Association of Mortgage Brokers. NAMB provides vital information to both buyers and sellers. Certified brokers abide by a strict code of ethics. Working with NAMB brokers minimizes the risk of engaging in unethical real estate transactions.

Purchasing a home is an enormous decision. In addition to mortgage payments, insurance and property taxes, homeowners must continually maintain the property and keep equipment in good working order. Owning a home is a big responsibility that should be carefully considered.

Take time to learn everything you can about buying and taking care of a home. In order to have a pleasurable experience work with honest and ethical real estate professionals who have your best interest in mind.

Author Bio: Simon Volkov offers a comprehensive real estate article library packed with a variety of information. From first time house buyer tips to building a real estate investment empire, Simon offers sound advice based on years of experience. Come explore the exciting world of real estate and all that it offers by visiting www.SimonVolkov.com.

Category: Real Estate
Keywords: first time house buyer tips, hud homes, realtors, mortgage brokers, buying a home