I’ve been lucky. I unquestionably work hard, but I never thought I would own a home. If you had told me, a 21 year old graduate of D.C. State, that one day you would own a home in the capital, I might ask for evidence. My dreams at that point, were meagre to say the least. All I desired in life was a trendy apt in the northern side. Somewhere next to the office so I could be home in a flash after work and sleep in the mornings. But most of those places were too expensive for what was offered. I’m not paying 45% of my wages to rent, and it just goes out the window. To some landlord.

My brother was the first to tell me about home loan. You told me about the difference between reverse mortgages and standard mortgages also about something called balloon mortgage but was more interested in a 15 year mortgage he convinced me it was too short a time and as a substitute I should opt for a 30 year mortgage.

Although 30 years appears and is a long time, in financial terms it is not that great and the payments decrease more and more as the amount to pay back recedes.

Home loans come in a mixture of shapes and sizes and are central to our economic recovery my brother told me. If more people take up housing then prices can alleviate and allow weaker markets to recover, but the first step is getting people home loans.

Banks are caught in a catch 22 because they are being told by the federal exchange commission that they must have more liquidity and stabilize their assets but are also being pressured to make home loans and small business loans. Well, both of those things can’t happen at the same time. They are caught between a rock and a hard place which has got to be the dumbest expression in the English language both the rock and the other side could equally be referred to as the hard place, this is easily the sillyest expression that English speakers have but I digress.

After reading all the damaging press lately I was a bit nervous to meet with the mortgage broker that my brother had introduced me to but I needn’t have been so anxious as she was great at her job and made me feel at ease straight away. She has full authority of all the terms and was able to explain them to me in great detail with ease. That is no mean feat, I am often perplexed by what I call legalise. It’s too difficult to understand so I don’t even try.

This Broker found me the best deal I possibly could and helps me get the upper hand in negotiations by having my documentation ready upfront, allowing me to pressure the buyer into closing faster. The day I moved in to my residence I felt like I had found what have been missing in my life and now I could really begin to understand who I was and build the family I’ve always sought after. So glad that there was someway to pay for it all because I know I could not of afforded something this nice without a home loans mortgage.