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You dream of a home. Your dream home. How exactly do you get from one to the other? I have tried to organized the facts right here in an easy-to-follow format. I remember what it was like not to know ARMs from amortization or title searches from expense ratios. Breathe easy. I've translated useful information and will walk you through the entire process. Before you know it, you'll be ready to cross the threshold to your very own home.

Making Up Your Mind
Getting Started
Home Shopping
Mortgage Types
When you Find a Home
The Home Stretch
Your Rights as a Consumer

INSPECTIONS -

Home inspection
Depending on the type of financing you choose, several home inspections may be conducted. The first should be your own basic inspection; the second should be a professional whole-house inspection by a reputable person. Should you select a government loan (FHA or VA), the third inspection should come at appraisal, which amounts to a "mini-inspection." Don't rely on this as your only inspection.

It is critical to have an extensive home inspection. It is well worth the $200 to $500 inspection fee to avoid repairing items that a good home inspector would have found. Any offer to purchase should be contingent upon (subject to) a whole-house inspection with a satisfactory report. Don't let anyone -- not the agent, not your family or friends and especially not the seller -- dissuade you from having a thorough inspection.

Inspections are designed to disclose defects in the property that could materially affect its safety, livability or resale value. They won't disclose cosmetic problems.

Don't wait until you've made an offer to begin the search for a home inspector. There will be a time limit in the contract by which the inspection must be completed (typically between 7 and 14 days). Generally, a real estate agent can recommend an inspector.

Termite, well, sewer or septic certificate
These inspections certify that the sewage and water supply work properly and that the property is free of termites and/or other wood-destroying insects. The sales contract states whether you or the seller is responsible for inspections and certificates.

Go with a reputable appraisal firm

A good appraiser will verify the value of your home and determine how much you can borrow. Find a certified or licensed appraiser for your mortgage, home equity or refinance loan through the Appraisal Subcommittee's search engine.

The mission of the Appraisal Subcommittee (ASC) is to "ensure that real estate appraisers, who perform appraisals in real estate transactions that could expose the United States government to financial loss, are sufficiently trained and tested to assure competency and independent judgment according to uniform high professional standards and ethics." You can search for appraisers by state, suspension, within a city or county or by name. Also, you may be able to secure a recommendation from your lender.

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