I'm back...to help me and you

As a first time buyer myself, I'm excited to learn that mortgage rates are back down near what they were when I started looking for a home.

It's funny, but I applied for a loan back in August and the bank just started calling again. I had applied for the loan before actually finding a house to buy. My intention was to get the loan approval process out of the way for when I do find a home--hoping to speed things along. Three months later I'm getting fax requests from the bank. Obviously they want want me to buy again.

Today, the mortgage rates dropped in WV and the national average is @ 5.11% on a 30-year fixed loan. 15-year fixed is @ 5.07%, but if you're a first time buyer you may want to go with the 30-year and put that extra capital into the prime of your loan. I'm sure your real estate agent or mortgage counselor can offer you some advice on that.

If you're interested in finding out what your estimated payment will be at specific rates, here's one of many sites that can calculate your payment: http://zi.ma/wvmortgagecalculator

As I have stated before, I am no expert in the pursuit of buying or finding your first home. My intention is to go through the process, learn, offer advice as I fumble through the process, and hopefully one day I'll become a good source of information/consultation for first time buyers.

Social media can help us make more informed decisions and share our experiences and mistakes for others to learn from. You can also find me on Twitter.com at WVRealEstate OR WVFirstTimeBuyr to help you stay current on all things real estate in WV.

First time buyers

Hello, and welcome to the WV First Time Buyer blog. Buying your first home is a big deal, and it can be a very frustrating experience. This blog is intended to make your experience a little less frustrating. As it grows, I will include helpful tips on buying your first home, such as legal questions you should be asking sellers, important things to look for when visiting a home, ways to improve your loan offers, etc.

If you have questions, send them to me. I have contacts with some of the top real estate agents in WV. I want this blog to be as interactive as possible, because collectively, first time buyers can make more informed decisions--and together we can all make our first home a good investment toward the next one.