New Home Loans

Despite news stories about slow home sales, plenty of Americans still qualify to purchase new homes. In fact, with the federal and even some state governments offering tax incentives for home purchases, now may be the perfect time for you to consider purchasing a new home. Use our new home buying guide and our mortgage calculators to learn how much home you can afford.

How to Know When a New Home Is Right for You
In today's economy, buying a new home works best under any of these conditions:

• When you can budget your 150% of your current rent to pay both mortgage and maintenance expenses.
• When a lender or seller is willing to help cover your closing costs or other expenses related to the purchase.
• When tax credits or energy efficiency make it less expensive for you to live in a new home.

How to Save the Most Money on a New Home
Choosing a home from existing inventory may save you the most money, especially when builders want to recoup their investments to cover expenses for other projects. Don't be afraid to print out the results of your mortgage calculator to show builders the price range that your budget can handle. Savvy sales professionals will find ways to work within your means, whether it's buying down your mortgage rate or throwing in some extras.

How to Get the Best Mortgage Rates
When you've determined that it's time to buy a new home, follow these steps to get the very best deal on your next home loan:

• Review your credit report for errors before you shop rates.
• Get mortgage quotes from a multiple lenders.
• Estimate your target monthly payment using a mortgage calculator.
• Get pre-approved for a new home loan before discussing financing directly with a lender. This will prevent you from getting locked into an unfavorable rate.
• Ask your new home loan lender or seller to cover some or all of your closing costs.

How Mortgage Calculators Help Find the Best New Home Loan Deals
Mortgage calculators make it easy to shop for new home loans. You can learn just how much house you can afford by filling in the blanks of our site's mortgage calculator. With a few quick keystrokes, you can narrow down the range of new homes on your shopping list while setting the right expectations for your real estate purchase. Thanks to some of the best mortgage rates in years, a new home may be closer than you think.