Housing counseling is a must for first time buyers.

Buying a home, especially the first time, is a complicated process. The National Foundation for Credit Counseling (NFCC) offers housing counseling around the country at non-profit member agencies. In 2014, the NFCC reported that more than 73,000 people participated in counseling sessions and workshops. This is the greatest number of participants in the last five years. Prospective Santa Barbara home buyers should consider seeking out housing counseling. The decision to purchase a home is one of the most important for long-term financial security. Educating yourself about how the mortgage process works, carefully going over your household budget, and exploring the other costs involved in homeownership are all important for maintaining homeownership.

Because of the education they receive, those who participate in counseling are much more likely to explore multiple mortgage offers. Prospective home buyers who do cost comparisons of mortgages will usually find a better deal than those who only work with one lender. Potential buyers who take the time to learn about all the responsibilities and expenses of homeownership are usually more prepared to deal with unexpected problems than people who don't consider all the ramifications of a home purchase. Being realistic about what you can afford is a crucial part of being a happy and secure home owner.