Tip #22 in our series of 70 ways to save money when buying a house is to put a deadline on all offers.

We do this to force the seller to make a decision. Once the time limit is up the offer is dead, unless you want to revive it. Put yourself in the seller's shoes. You are selling a $200,000 house that has been on the market for 4 months. You want to move but have to wait until the house sells.

Part of achieving the best financial terms possible on your mortgage loan is having the highest credit score you can. Although there are lots of mortgage opportunities for those with less than perfect credit, a tip-top credit score is the key to securing low interest rates and generous terms. Activities that may hurt your credit are the obvious: late payments, collection activities, and paying less than the minimum balance every month.

Many people shy away from owning a house for many reasons. They may include bad credit, self-employment, a low income, or lack of cash. If a mortgage from a lending institution is not in the horizon, a lease option is an excellent alternative. Short for "a lease with an option to buy", a lease option automatically grants you the right to purchase a property.

Homeowner's insurance is the backbone of our real estate properties. Housing markets are some of the most consistent in the nation, with rock solid investment opportunities all around unlike the volatile stock market. Since many companies are now providing home insurance, it is important to select the right policy without spending a fortune. As with shopping around, you need to conduct some research.

If you want to sell your deeded timeshare, and a company approaches you offering to resell your timeshare, go into skeptic mode:

· Don't agree to anything over the phone or online until you've had a chance to check out the reseller. Contact the Better Business Bureau, state Attorney General, and local consumer protection agencies in the state where the reseller is located.

If you put less than 20 percent down on a home mortgage, lenders often require you to have Private Mortgage Insurance (PMI). PMI protects the lender if you default on the loan. The Homeowners Protection Act of 1998 - which became effective in 1999 - establishes rules for automatic termination and borrower cancellation of PMI on home mortgages. These protections apply to certain home mortgages signed on or after July 29, 1999 for the purchase, initial construction, or refinance of a single-family home.

In calculating the total cost of a timeshare or vacation plan, include mortgage payments and expenses, like travel costs, annual maintenance fees and taxes, closing costs, broker commissions, and finance charges. Maintenance fees can rise at rates that equal or exceed inflation, so ask whether your plan has a fee cap. You must pay fees and taxes, regardless of whether you use the unit.

The thought of owning a vacation home may sound appealing, but the year-round responsibility and expense that come with it may not. Purchasing a timeshare or vacation plan may be an alternative. If you consider a timeshare or vacation plan, the Federal Trade Commission (FTC), the nation's consumer protection agency, says it's a good idea to do some
homework.

This is the best way to avoid one of the most famous scams the mortgage industry plays on the public. When you apply for the loan at XYZ Mortgage Company you get quoted a great rate say 4%. No other mortgage company can beat this rate so you do the loan with XYZ. But at closing the rate on the paperwork shows 6.9%!

What happened? XYZ scammed you.

Tip #23 in our series of 70 ways to save money when buying a house is to buy a home warranty.

Despite the love buyers show for their newfound properties, there could be things beneath the surface not foreseen or witnessed. From a cursory glance, homes may appear spotless with no maintenance required whatsoever, even on resale homes. The word of the seller may cloud enough judgment to avoid covering insurance costs on the home.