Home ownership is something that cannot be taken lightly and must be entered into with a lot of research and due diligence. Many first time home buyers got sucked into sub-prime loans that were short term low interest payments and then escalated after a few years. This has put a lot of people in serious financial troubles and helped them to loose their home. My recommendation is to always work with your local bank as they are more familiar with the housing market and can help you better plan your budget without over extending your cash flow.
