Say what you will about the housing bubble, and whether or not this is a good time to buy a house. The housing market, like any other market, will fluctuate. There will be good times, and bad times, times when those who invest for speculative purposes make money, and times when they lose it. For the overwhelming majority of the American people, owning a home is still an integral part of the American dream. And as long as home ownership is seen as a goal by most Americans, home loans will be part of our landscape.

These days, home loans are tougher to get than they have been in years past. Perhaps the biggest reason for that is that many of the subprime borrowers have defaulted on their mortgages, leaving banks with foreclosed property which they can’t sell for anything close to what they originally lent out on the property.

But don’t let that cause you to think that you can’t realize your dream of owning a home. Even in this economy, banks will make home loans to the right individuals. There are really only two things that you need:

1. You need a good credit history. If your credit score is already high, you’re in good shape. If, on the other hand, you’ve made some poor decisions, or if your circumstances left you unable to pay your obligations, you may have an uphill climb. The good news is that you can make it. Even if your credit is horrible, you can start rebuilding it. You’d be surprised how quickly you can repair your credit when you start making payments on your debts.

1. You need a sizeable down payment. Believe it or not, there was a time when banks would not even consider making home loans to anyone who didn’t have a 20% down payment. These days, even after the bubble burst, you should have very little trouble getting a home loan with a 10% down payment, if your credit is good. That said, the closer you can get to 20% down, the better off you will be in terms of having instant equity in your home.

The solution is simple if owning a home is part of your American dream. Work on paying off your other debts and start saving. If you do those two things, you’ll be in your own home before you know it, regardless of what the rest of the housing market does.

Image by Wonderlane

Federal and state employees can find the best home loan by learning as much as possible about all their options. Find the best home loan is all about understanding every step of the loan process. It starts with learning how to prepare yourself to apply for a home loan and continues on to how to close the deal. You will have to focus on finding the best interest rates and the right type of home loan. The more you know about home loans will help you in the end to get the best deal.

1. Rupee Times: Government employees may have the upper hand when it comes to getting approved for home loans.
2. Bank Vibe: Learn about the various mortgage rates available through a credit union especially for government employees.
3. Best Reverse Mortgage: A credit union for state or federal employees may be the best place to go for a reverse mortgage deal that offers good rates.
4. Reverse Mortgage Daily: Credit unions are offering government employees more mortgage loan options.
5. Long Beach Real Estate Home: A nice overview of how to best present yourself to a lender so you can approved for the best home loans.
6. First-Time-Home-Buyer-Solutions: First time homebuyers can qualify for some of the best home loans. Learn more about FHA loans.
7. Lender Rate Match: Sometimes you only think that you are getting the best home loan. Find out how to be sure you are getting the best loan.
8. Buy-and-Sell-House-Fast: Getting pre-qualified for a home loan is often the best way to get an overall good deal when buying a home.
9. Home Buying Institute: Understanding the different types of home loans can help you to figure out which is best for you.
10. Mortgage-X Knowing how to shop around for mortgages will help you to get the best rates.
11. Surf Rate: Figure out if you are a prime or sub-prime borrower. Prime borrowers get the best mortgage rates.
12. Lendersmark: Buying a home for the first time can be an intimidating process.  That is why first time home buyers need some special advice on how to get the best rates.
13. Mass Real Estate News: A straightforward guide to getting the best home loan.
14. Top Mortgage Loans: Learn about the different types of loans and home loan options.
15. Echo Bay Loans: Advice for those with bad credit about how to get the best home loan.
16. How Much Answers: The best home loan is the one that matches your situation.
17. Mortgage Loans Bad Credit: Having bad credit can limit your mortgage loan options. Find out more about what you should do to get a home loan with bad credit.
18. Power Home Biz: How to get a home loan with bad credit.
19. Bad Credit Whiz: Shopping online can be one of the best ways to get a good mortgage loan when you have bad credit.
20. Find Local Mortgage Rates: A checklist to help you be ready to start shopping for the best home loan.
21. All Womens Talk: Preparing to get the best home loan starts with knowing what you can afford.
22. Homebuyers Digest: Great advice on how to get your mortgage loan approved.
23. Manufactured Home Site: Tips to ensure you get the best home loan.
24. Top Mortgage Tips: A general article filled with tips and advice on how to make sure you are getting the best mortgage loan.
25. Mortgage Fit: If you have been through a foreclosure you can still get a new home loan. Find out how to get the best new mortgage deals.
26. Collins Development: If you are building a new home then you need to take some special steps to get the best home loan.
27. Mortgage Place: Finding the best home loan means finding the best lender.  Find out how here.
28. Coupon Saver: Good tips on things you can do to ensure that you are getting the best home loan.
29. Stock Markets Review: There are many ways that you can get a better interest on your home loan to ensure you are getting the best deal.
30. Tipdeck: Find out the basics of getting a good home loan.
31. Money Smart Life: Finding the best home loan usually depends on getting a good interest rate.  Discover how to get the best rates.
32. Entourage-Group: Knowing these facts about FHA home loans could save you a lot of money.
33. Pssucai: Getting the best home loan is often about getting the best lender.
34. US Mortgage Rates: There are many details that go into getting the best home loan. Deciding about the type of interest rate you will get is one of them.
35. Refi Advisor: There are many tips and tricks to getting the best home loan. Here is one take on how to do it.
36. Five Cent Nickel: Find ways to ensure that you get the best possible rates on your home loan.
37. Get-Your-Best-Mortgage-Rate: If you are interested in a fixed-rate mortgage then find out how to get the best one here.
38. Monitor Bank Rates: Find out everything you need to know about mortgage interest rates.
39. Moolanomy: A guide to getting the best rates on a variety of different types of home loans.
40. Mortgage Research Center: If you are looking into a VA home loan then find out here how to get the best rates.
41. Refinancing Right: If you are trying to refinance, then learn about getting the best home loan refinance deal.
42. First Home Buyers: A nice guide for first time homebuyers on how to get the best home loan deal.
43. Consumer Tips Reports: In order to get the best home loan you have to understand interest rates.
44. The Best-Mortgage-Rates: A comprehensive guide to getting the best home loan interest rates.
45. Best Cash Cow: Did you know that saving up for your down payment can actually help you save on your home loan?
46. The Mortgage Insider: Top things to avoid so you can get the best home loan.
47. FHA Loan Pros: If you are considering a FHA home loan then read this to make sure it is the best loan for you.
48. Easy House Mortgage: To get the best home loan you need to choose the type of loan that is best for you.

Image Credits: Diana Parkhouse

Too often in our society, we figure if we can afford the payments, it’s a good idea to buy something. In real estate particularly, we’ve been encouraged to indulge ourselves by getting the absolute most house we can afford. Of course, when interest rates go up, we’re screwed. But on the bright side, we were able to live it up for a little while.

The mortgage crisis, of course, has made it much harder to obtain new home loans for most of us, unless we can prove definitively that we don’t really need the loan. The positive effect of this is that we’ll have to live longer in the house we have, making do with it while we pay down the mortgage.

Our parents and grandparents mostly bought a house with the idea of living in it for the entire time they raised their families, then maybe selling it and buying one more house. Usually, they would buy a cheaper one and keep the difference since children had grown and moved out.

Staying in the same house for that long allowed them to actually pay it off (I know, a novel concept). These days, what most of us have been doing is trading up for a bigger mortgage every few years. The problem with that is simple. For the first half of your mortgage, most of what you pay is going to interest. That money is gone with the wind, just as surely as if you had paid it in rent.

Only a small percentage of our mortgage payments actually pays down the principle on the loan and builds equity for us. But, if you stay in the loan for its duration, about halfway through the equation flips and suddenly you are building equity very quickly.

So consider this. After the storm is over, and everyone else goes right back to trading up for a different home every five years or so, stay in your home until you really need to move. Then someday, you may actually own it outright. Believe us, it beats the hell out of paying interest on home loans.

Photo via chascar

If you’re smart, you’ll at least start the process of being approved for a second mortgage before actually picking out the home. That way, a lot of the red tape can be cleared out of the way while you’re busy picking out that second home. Home loans are tougher for second homes, of course, because banks don’t feel they have as much leverage over you than when you are dealing with the house that you actually live in.

Here are some common reasons for buying a second home, and what kinds of things you should consider if you’re in the process of selecting a home or location:

• Family vacations. Many people buy a second home for the primary purpose of having someplace to go on family vacations. Of course, if that’s why you’re buying your second home, you’ll want to buy one is a place that’s likely to present a lot of opportunities to make memories. What kind of memories you’re looking for is completely up to you, of course. One family might prefer a condo near Disney World and the many attractions in Orlando, while another family might prefer a little cottage by a secluded fishing lake. It really depends on what you like to do as a family.

• Property Investment. A variation on the vacation property theme is to buy a home that can be used for your family’s vacations, then rented out for other families to use while you’re not using it. If you have a hot location, you could not only cover all of your expenses, but make a hefty profit as well. Of course, over time, the property will likely appreciate as well.

• Future Retirement House. If you’ve found someplace you’d like to retire to, it can be a great idea to buy a condo or other property. And until retirement day comes, you could even rent it out, either to regular tenants or to vacationers. The advantage of renting to vacationers is that you can charge more per diem (a lot more). This also affords you the advantage of being able to take your own vacations there. Having more permanent tenants, of course, gives you a bit more security.

Photo via ltdan

I know you’re thinking this is just a starter home, and you’re probably right. The average American only stays in a home for five to seven years before moving to a new home, and merely trades up as far as the home loans are concerned. And there’s nothing wrong with that, if it’s what you want to do.

But if the recent housing crisis has taught us anything, it should have taught us this: property values fluctuate. The myth that was perpetrated from the 1950s on through the early part of this millennium that property values will continually go up and up has been debunked. Sure, property values will probably come back up eventually, and the overall trend will probably be that they rise more often than they fall. But there are no guarantees.

So, make sure before you buy that house that you could live in it for thirty years if you have to. If it’s a fix it up house, make sure that you’re fully aware of everything that’s wrong with it. Trust us, it’s well worth a couple hundred bucks to have a good inspector go through it thoroughly so there are no surprises down the road.

You’ll want to make sure you factor in any repairs you need to make into your budget. That’s true if you’re a do it yourselfer, and even more so if you plan on contracting work. If you do plan on having work done by others, get a good idea of what it’s going to cost before you sign a mortgage. Otherwise, repairs that cost more than you expected can turn your dream home into a nightmare in a hurry.

We know you’re excited. There’s nothing wrong with that. But when it comes to buying a home, take your time. Kick the proverbial tires. Make sure you’re fully aware of everything that you’re getting into, from repairs to peripheral costs like taxes and utilities. Remember, you might be with this home for a long time. You’ll want to choose a home that you’ll still be happy with down the road.

Photo via alexkerhead

• Taxes. Along with death, they’re one of the few things in life you just can’t avoid. And if you do avoid property taxes, you’re in for a rude awakening when the city decides they have a greater stake in your home than you do. Guess who wins that fight every time? Better to know what your taxes are going in and budget for them, with escrow if possible.

• Utilities. It happens every time. Partly because apartments tend to be smaller and surrounded by other units, they tend to use less electricity and gas for heating and cooling. Additionally, less water is used, because you’re not watering the lawn in most cases.

• Home Repairs. Even if you’re buying a brand new house, things can and will go wrong. Don’t skimp on the inspection. Have the best home inspector in the area check your house over thoroughly before you buy it. There’s nothing wrong with buying a home that needs a little TLC, but you don’t want any more surprises than necessary.

• Maintenance. Completely apart from repairs, there are costs associated with simply maintaining your home. Things like taking care of the yard and the outside of the home all represent new expenses for those accustomed to renting.

• Insurance. Not only does homeowner’s insurance cost more than rental insurance, it also is mandatory with most lenders. If you have a home loan, you will have your home insured. Make sure you factor in the cost when deciding which home to buy.

All of this is not to scare anyone away from buying a home. What it should do, though, is ensure that you consider all of the costs when deciding which home to buy.

Photo via zieak

Flipping houses has become a popular trend in the past few years, not only for the real estate pro’s, but also for the average person. This trend is sure to continue even if the economy is in a slump. There have been literally millions of dollars made in this industry.

If you are considering trying your hand at flipping houses, you will want to gather all of the information necessary to make a sound decision, as well as make a wise investment. Below you will find the information which will allow you to decide if flipping houses if right for you, and if so, the right way to go about it.

1. Real Estate Investing at Flipping Homes - A guide to flipping homes: tips, ideas, and strategies.
2. Free Guide to Real Estate Wholesaling, and Flipping Homes - Related blogs on wholesaling houses.
3. Successful House Flip Tips & Info - Profitable house flip strategies, practices and tips.
4. Real Estate Investing Training - Strategies for advertising your properties.
5. 10 Unbelievable Upside Down Houses - Steve gives another view of house flipping with upside down restaurants and houses. The advantages and benefits of buying in a slumped market.
6. How to Locate Wholesale Properties for Flipping - Several methods explored on how to find properties to resale.
7. Make Money Flipping Houses - A real estate investing newsletter on flipping houses.
8. Flipping Homes in a Down Market - Information on adjustments you will need to make to continue being successful even when the market goes into a slump.
9. Simultaneous Closing and Funding - Questions are answered on how to accomplish closing on your real estate and funding it on the same day.
10. Fix to Flip - Tools to help you succeed from start to finish.
11. The Real Estate Blog - Tools and resources for those flipping their first house.
12. Investing In Foreclosures and Flipping - Valuable guides to buying foreclosures and flipping houses.
13. Free Cost Calculator For Bathroom Remodeling - Free calculators to help you budget your remodel, along with guides to help with what will be needed.
14. Three Ways to Flip Houses in a Down Market - Even if the market is down, you still have options to begin or continue flipping houses.
15. Must Know Information for House Flipping Investing - Tom Terrant talks about foreclosures being back on the rise.
16. House Flipping Tips and Articles - Television personality Armando Montelong on flipping houses in today’s economy.
17. Flipping Houses? - A site where a seasoned professional offers pro’s and con’s of flipping houses.
18. Real Estate Snippets - A look at the house flipping industry from a Realtors point of view.
19. Flipping Homes for Fun and Profit - Information on how to save on upfront costs, along with other costs associated with house flipping.
20. House Flipping Info – Learn How to Use Owner Financing - In depth information on how to use owner financing to buy properties to flip.
21. How to Make Easy Money Real Estate Investing - Tricks in helping to make your house flipping investment easier.
22. Million Dollar Journey - A guide on how to build wealth investing in, and flipping properties.
23. Spark Plugging - An inspiring story of a football player, Than Merrill, who started flipping houses. He offers advice to the beginner.
24. The Private Market - Important information on how to work with Contractor’s when flipping a house.
25. House Flipping Loan - Information on how to qualify for a loan when house flipping.
26. Research Before Flipping Foreclosures - A look at the research you should do before buying a foreclosure for flipping.
27. Flipping Your House: How to Trade Up - Repairs to do and not to do to get the price you want from your flip.
28. Green Business Owner - A look at how to flip houses using “green methods” for reuse and recycling of materials which also save you money.
29. Craftsman Home Remodeling Blog - Tips on remodeling to be certain your flip goes smoothly. Includes images to show you exactly how to do the remodeling.
30. The Idea Blog - A blog devoted to remodeling bathrooms for every budget.
31. House flipping – finding your way to success by flipping houses. A more realistic look at the financial possibility of earning with house flipping.
32. What Are The Tax Consequences Of Flipping a House? - Understanding taxes when flipping a house and tax strategy tips.
33. The Go to Site For Home Buyers - How to find buyers/agents, and owner financed properties.
34. Selling an Undesirable Home - Tips and advice on how to sell a less than desirable home.
35. My House Flipping Experience: The Bid - One man’s experience buying properties to flip and the bidding process.
36. Total Financial Liberty: Wholesale - Skills for finding properties below market values to turn them into huge profits.
37. House Flipping – A guide to flipping houses. - Get some beginner’s advice on whether house flipping is a good individual career move.
38. Successful House Flipping – Gives a guide of three steps to walk through for successful house flipping.
39. Fixing Up Houses To Sell for A Profit – Rick Villani sells his book on how to make a lucrative living selling houses that have been fixed up.
40. The Smart Way to Flip Houses – Warns potential house flippers that the house flipping shows don’t show how hard it can really be.
41. The Complete Cost of House Flipping - A homeowner reflects on a house flipper projects a few houses away.
42. House Flipping Makes a Comeback – James Hagerty talks about investing in a house that turned a big profit.
43. Charleston, SC Residential Real Estate-Trademark Properties - A look at real estate in Charleston, South Carolina.
44. House flipping Is In - Dan Caplinger gives an overview on his experience with house flipping.
45. Can you flip a house for profit in this market. - Tim Lee shares his perspective on flipping a foreclosed home. He talks about doing your homework about house flipping before starting a project.
46. Budgeting - How to flip a house on a budget. Joel Saul-Sehy shares his personal advice on the finances involved in doing a house flip.
47. New House Flip - A general overview of house flipping.
48. Look Before You Leap – Or, flip a house. A team of house flippers talk about house flipping in Michigan.
49. Fix to Flip - Tools to help you succeed and a look at flipping a rehab house.

But lest we continue on this gloomy tone indefinitely, recent evidence has shown that the number of foreclosures has stabilized, and may even be declining. Maybe even more important is the finding that fewer and fewer of the foreclosures are related to high risk loans. Rather, the recent trend has been towards high income families who have undergone a significant change, such as loss of a job.

Home loans are, slowly but surely, showing the first signs of a comeback. While it would be way too optimistic to say we are out of the woods as a country, it might just possibly be within the bounds of reason to say that we are starting to see the dim light at the end of the tunnel.

While banks are still a little skittish about making loans in high risk situations, several government programs have come into effect that may make it possible for you to obtain a home loan, even if your credit is somewhat less than perfect. And if your credit score is good, there’s never been a better time to buy a home.

While it might seem distasteful to some to buy a house that has been foreclosed on, keep this in mind. Not taking a great deal on a house does not help those who, for whatever reason, were not able to keep up the payments on the house. And repossessed property often sells for a fraction of the price of similar properties. So, as much as we all hate to see anyone go through the misfortune of losing their home, there can be winners in these situations as well.

In short, if your credit is good and you don’t already own a home, what are you waiting for? And even if your score isn’t the best in the world, it might still be worth a try to see if lenders can help you.

Photo via Penningtron

For those who have decent credit, this is an ideal time to buy a home. One of the few positive results for consumers of the current recession has been the absolute steals that are available on property right now. Property values have plunged. That’s terrible news for homeowners, of course, and we would never want to diminish that, but the fact is, if you’re in the market for a home, there’s been no better time in recent memory.

While it is true that banks are more hesitant to lend money to those with poor credit ratings or low incomes, there are a number of government programs designed to help you become a homeowner, if you wish to become one. Most lenders are not only familiar with these programs, but are willing, even eager, to share the information with you.

Home buying is still down somewhat. Because of this, and the fact that foreclosures have been running high for many months, more and more banks will be trying to divest themselves of foreclosed and vacant properties. The longer a property remains vacant on the market, the less likely it is to fetch anything close to its appraised value. While this isn’t exactly good news for the banks, it can be beneficial to those who are looking to buy property.

Like every other hardship that has faced America, the housing crisis we have faced in recent months will eventually give way, and we will go forward. But in the meanwhile, don’t miss out on a chance to own the home of your dreams at a great price just because you didn’t think that home loans were still available.

Photo via Bondseye

Your credit is a null point here

One of the biggest advantages is that your credit history will not play a factor in buying a home. This is a big advantage for those who have no credit history, or their credit history is not the best.

This also helps speed the home buying process up. It generally takes two weeks for a bank to get all your home loan papers in order. Paying in cash cuts this whole step out. You also do away with the worry of a bank denying your home loan and the whole purchasing process falling apart.

Falling home prices have less impact on you

Let’s say you snagged your home for $150,000. You paid in cash. This means you own your home outright. Now the housing markets start to tank. Your home is now worth $140,000. Let us put this into another light.

You loose your job. You have to relocate to a new part of the country. You have to sell the house you just bought a year ago. You paid in cash so you have no bank to deal with. Your hose might have fallen $10,000, but you also have no home loan to deal with.

This means that when you sell it you will not have to worry about the fact that you still have a $145,000 home loan to deal with. You will not need to borrow the difference to pay off the bank. While you might feel your losing money now, it is still less than paying the interest on yet another loan

Negotiating deals becomes easier

Negotiating a deal on anything is always easier when you have the greenbacks to pay for it. People like cash. People can spend money right away. People can pay off loans right away with cash.

Paying in cash also helps in quick sales. You find a house that the owner is trying to dump in a hurry. You are competing with three other families for this house. While your offer might come in lower than the other people, you are paying in cash. This means the seller can move this house in 15 days versus 30, or more, day. You have the advantage.

You are free to invest your money

A home loan always comes with an interest rate of some sort. This interest rate might be small in the scheme of home loans. Yet, it is still money you are paying a lender. You are better to spend that interest money on other investments.

Paying for a home in cash takes a lot of planning on your part. You need to ensure you don’t stretch yourself thing on that bank account. Yet, there is a lot to be said about not having a home loan.

Photo via AComment