I’m almost 47 years old, a single mom, and looking to purchase my first house. I’m wondering whether I’ll be able to get a twenty-year mortgage because of my age, or should I try to find a 15-year mortgage? I’ll be a first-time buyer, does this make a difference? Thanks for any help or advice — I’m really in the dark here!

Tips for First Time Homebuyers Things to do before you contact a lender

They say I need to call my bank and lock in my rate? What is the average, so if they say a number above that I have some sort of leverage.

Thanks.

I have a brand new house, it is one year old. When we got it, we paid for a thorough home inspection, and our house is in tip top shape. Our one year waranty is expired, and we can extend it for three more years for 6. It it only structural and for the ac unit and stuff like that. Is it worth it? Everything is brand new, and I hear these companies will go out of their way to not have to pay for stuff.

Here’s a Tip from the IRS. . . Did you buy a house or a condo recently? If you did, it could mean money in your pocket. Thats right, if you bought a home last year you could get a 75-hundred dollar interest-free loan – courtesy of Uncle Sam — and you have 15 years to pay it back. On the other hand, if you buy a home this year before December the first, you can get a tax credit of up to eight-thousand-dollars either on this years return or next years return, and you dont even have to pay it back. To learn more about the first-time homebuyer credit go to IRS.gov.