Buying a home can bring a sense of freedom from the confines of renting - paint and decorate however you choose, bring pets into your home, etc. It also allows you to build equity and the interest on your mortgage and property taxes may be tax deductible - reducing your overall tax load.

With the benefits of owning your own home come the costs. When you decide to buy a house, experts suggest to first do research - not only on your lender, the current mortgage rates and the real estate markets, but also your credit history.

Check Your Credit - By checking your credit report annually, you can ensure the information is accurate and correct any inaccuracies. This will help you be in a good position to get the best mortgage rate when you are ready to buy.

Ensure You are Financially Prepared - Once your credit report is in good standing, review your financial obligations and make sure you can afford the additional payments on a home. If you have too much debt, consider delaying the purchase of a home or consult a financial advisor.

Plan for Closing Costs - Be prepared for the closing costs of buying a home, such as a cash down payment, appraisal fees, home inspection fees, realtor fees and lawyer fees.

Expect the Unexpected - Once you become a homeowner, you may have new expenses you didn't have while renting - such as maintenance, homeowners insurance, utilities, pest control, property taxes and many others.

Consider Your Lifestyle - Do you have a steady job? Will you relocate in a few years? Are you ready to settle down or start a family? Consider your current and future lifestyle before making the big investment.

To see if you are eligible for one of the Your Way Home AZ programs, click on Am I Eligible?

To find which programs might assist you in your quest for a home, please visit the Community Partners section of this Web site.