Many people dream of homeownership. But the best deals, in the form of the lowest mortgage rates, often go to the borrowers with the highest credit scores.

Buying a home is daunting, even if you’ve done your homework. There’s no crystal ball to predict the future of mortgage interest rates or home prices. So, ask yourself these five questions to help you determine if now is the best time for you to buy a home.

If you need money to pay for an expensive medical bill or to remodel your house, tapping into the equity of your home could be a solution. A home's equity is the difference between what your home could sell for and what you owe on the mortgage.