Think new homes are too pricey? Think again. Today's financing options make new homes as affordable as used ones. New home buyers can benefit from:

Low and simplified financing opportunities. Many home builders assist prospective buyers in finding a broad range of affordable financing options. Builders also help walk buyers through the paperwork.

Favorable pricing. There is a lot of price competition in the new home market, and it is still a buyer's market. In many areas, the cost of a new homes has not significantly increased in the last several years.

Value. New homes have a longer life expectancy; therefore, they have higher appraisal and more
favorable resale values than older homes.

Here are a few tips that can help you make a wise investment:

• Before you begin, determine how much you can comfortably afford to spend for a house. (A
  rough rule-of-thumb is that you can afford a house that costs three times as much as your annual income.)
• Visit at least three mortgage companies to gain an understanding of the financing tools available and the requirements that will be made of you to qualify for a loan.
• Ask lots of questions: of your real estate agent, builder, mortgage loan officer, attorney, even the neighbors near the house (or houses) you are considering.