Make a Calculated Move with Frontdoor.com's Top 10 Tools for Homebuyers

KNOXVILLE, Tenn.--(Business Wire)--
Purchasing a home is a huge financial commitment that requires
complex calculations before you even begin looking at houses. Since
getting all the answers to your house hunt's most important questions
can be a daunting task, HGTV's new real estate site - Frontdoor.com -
is offering a handy toolkit for homebuyers
(http://www.frontdoor.com/top10). This user-friendly guide is packed
with tips that will break down the overwhelming process and help you
develop a home-buying strategy that will allow you to spend more time
searching for your perfect home.

FRONTDOOR.COM'S TOP 10 TOOLS FOR HOMEBUYING:

1. Rent vs. Buy Calculator:

(http://www.frontdoor.com/tools/calculators/rent_vs_buy.aspx)

Homeownership comes with great benefits like tax breaks and the
chance to build wealth, but renting can often be a less expensive and
more convenient option for many people. FrontDoor.com's "Rent vs. Buy
Calculator" compares the costs of renting and buying and helps you
determine which alternative is right for you.

2. How-To Guide:

(http://www.frontdoor.com/buy/)

Once you decide that buying a home is the right move, the first
thing you'll need is a comprehensive, step-by-step guide that you can
refer to throughout the home-buying process. FrontDoor.com's
"First-Time Home Buyer's Guide" and "Experienced Buyer's Guide" offer
expert tips and advice for buying your first or your umpteenth home.

3. Home Wish List:

(http://www.frontdoor.com/news/article/416)

Having a written vision of everything you want and need in a home
will keep you enthusiastic and focused during your search. Think about
your lifestyle and make sure it's compatible with your vision of home.
Do you need to live close to your workplace? Are you planning a family
and need extra space? Questions like these will influence what type of
home you need.

4. Home Affordability Calculator:

(http://www.frontdoor.com/tools/calculators/can_i_afford_it.aspx)

In general, you shouldn't spend more than 2.5 times your gross
annual income on a home, and your mortgage payment should be less than
28 percent of your gross monthly income. FrontDoor.com's "Can I Afford
It? Calculator" will estimate what you can afford by comparing your
monthly income with your monthly expenses.

5. Mortgage Calculator:

(http://www.frontdoor.com/tools/calculators/
mortgage_calculator.aspx)

The amount of your loan, the interest rate and the term of the
mortgage affect both your monthly and total mortgage payments. And
don't forget about property taxes, hazard insurance and private
mortgage insurance. FrontDoor.com's "Mortgage Calculator" shows you
how much you'll wind up paying.

6. Fixed vs. Adjustable Rate Mortgages Calculator:

(http://www.frontdoor.com/tools/calculators/
fixed_vs_adjustable_rate_mortgages.aspx)

A fixed rate mortgage offers an unchanging interest rate, while an
adjustable rate mortgage has an interest rate that changes over the
life of the loan. The type you choose depends on your ability and
willingness to take financial risks. FrontDoor.com's "Fixed vs.
Adjustable Rate Mortgages Calculator" helps you compare the two
options.

7. Mortgage Term Length Calculator:

(http://www.frontdoor.com/tools/calculators/
which_term_length_is_best.aspx)

Assess your financial situation to figure out which term length is
best for you. If you can afford to make larger monthly payments,
you'll save in the long run by paying less interest with a short-term
mortgage. The "Which Term Length Is Best? Calculator" shows how much
you'll pay with various term lengths.

8. No Cost Loan Calculator:

(http://www.frontdoor.com/tools/calculators/no-cost_loans.aspx)

If you're short on cash and can't fork up thousands of dollars at
closing, consider a no-cost loan. Lenders offer these loans for a
higher interest rate, allowing them to cover your closing costs and
still make a profit. To find out if a no-cost loan is a better option
for you than a traditional mortgage, use FrontDoor.com's "No-Cost
Loans Calculator."

9. Mortgage Points Calculator:

(http://www.frontdoor.com/tools/calculators/
should_i_pay_points.aspx)

Points lower your interest rate and are tax deductible, but you'll
have to pay more cash at closing. One point is equal to one percent of
your loan. The "Should I Pay Points? Calculator" helps you decide if
paying for points now will help you save money in the long run.

10. House Tour Worksheet:

(http://images.frontdoor.com/FDOOR/packages/savvy_woman/part_one/
good_bag_ugly.pdf)

You'll look at a lot of houses during your hunt for the perfect
home, and eventually they'll start to blend together. Take pictures
and detailed notes about what you liked and didn't like about each
home so you can differentiate them. Use your completed worksheets to
narrow your search and focus on the houses you really liked.

FrontDoor is like house hunting with an in-the-know friend. Use
this helpful guide to formulate your own searching and buying strategy
and look for more advice, insight and assistance at FrontDoor.com,
including information on ways to beat a sluggish housing market.

About FrontDoor

FrontDoor.com (http://www.frontdoor.com) is an online real estate
listing service powered by HGTV, the No.1 source for home-related
media content. The site currently offers more than 1.5 million
listings of homes for sale and partners with other leaders in the home
shelter category including Realogy Corporation, Prudential Real Estate
and Leading Real Estate Companies of the World(TM). In addition to
providing users with the latest real estate listings, FrontDoor houses
expert HGTV advice and videos along with original Web series and a
comprehensive library of engaging, interactive tools, guides and
information.

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Scripps Networks
Kristin Alm, Corporate Communications, 865-560-4316
kalm@scrippsnetworks.com

Copyright Business Wire 2008