Sompur

Thanks everyone for your answers.
After some research over the past few days, we have decided to wait to buy our first home...mostly because we want to accumulate 20% (we are shooting for 25%) downpayment. Hopefully while we save up/stregnthen our credit score, the current mortgage mess will sort itself out and sanity (in terms of home prices) will return. It is sad that we as a society have to come to think of a home as one of THE main tool to make money off of :-(
As I said earlier, we are conservative folks and do not believe in ARMs or Interest-only loans or any other new type of loan other than the traditional 15-yr or 20-yr mortgage. We would also like to buy a home with minimum brokering..
Talk to you all in1.5 years from now.... hopefully sooner if the home prices reflect realism earlier.
Thank you once again and good luck to all those in the real estate buisness. - Tue Apr 29 2008, 08:49