Legions of baby boomers are checking out retirement communities around the world as a possible next move. In addition to sizing up real estate options, they are carefully evaluating the golf courses, tennis courts, marinas, landing strips and yoga studios offered in the glossy brochures.

But since buying into a retirement community involves more than just amenities, the editors of topretirements.com have prepared a list of the top 10 questions to help boomers make an informed decision.

The list was developed as a guideline to help boomers to find a good fit.

1. Who owns the land your home sits on?
2. How solid is the financial situation of the developer or association?
3. Is there a sinking fund for maintenance?
4. What type of assessments have there been?
5. What is the reputation of the builder/developer?
6. What is going to happen with the adjacent property?
7. Can the community handle future growth?
8. What kind of rules (and how many) will you be required to follow?
9. What is the political atmosphere of the community association?
10. What are your new neighbors like?

Topretirements.com assumes that the new retiree has already researched the area in which the community is located for climate, economics, recreational and cultural opportunities.

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Attracting homebuyers with creative financing

With mortgage rates up and home loans down, lending institutions are getting creative to attract borrowers.

To appeal to the shrinking pool of borrowers, lenders have some new programs. This is good news for borrowers, but the options can be confusing.

Though many of these programs are competitive and offer the borrower some advantages, buyers are cautioned to implement smart loan shopping habits which should include loan comparisons and a complete understanding of the loan's terms.

CNN Money cites several recent inventive loan packages:

• Retail banker Washington Mutual has a flexible mortgage that lets borrowers jump back and forth between a fixed rate and an adjustable rate mortgage (ARM) at little or no charge.
• Bank of America has a mortgage with absolutely no percentage points or other fees (a percentage point is typically one percent of the mortgage amount, and many traditional loans carry several percentage points).
• Credit unions are offering a hybrid ARM in which the highest rate will not exceed the national rate at the time of the initial loan.
• Ditech, an online lending arm of GMAC, has a version of the 30-year fixed loan that combines the mortgage with a home equity line of credit and a credit card rewards program.

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Tips for the first-time homebuyer

Kicking yourself for not buying that 3-bedroom house five years ago? The one that has doubled in price since you first looked at it? And now you are running short on down payment cash because you just had to have that fancy new car which has done nothing but depreciate since you drove it off the lot.

Many local residents who formerly rented were able to buy their first home last year joining the ranks of more than 75 million Americans who own their own home. Still, others feel like they have missed the boat.

Linda McCabe, Realtor and partner at Prudential Locations LLC, is passionate about helping first-timers to realize their dream of homeownership. If you're hopelessly intimidated about the prospect of ever owning your own home, she offers these critical first steps to help you navigate through the process with confidence.

Step 1: Get your team together.
Buying a home may be the biggest investment you ever make - so it pays to call in the experts. You'll need a Realtor and a loan officer. Realtor commissions are generally paid by the seller, so as the buyer, these essential services are free. McCabe's advice is to find someone you can relate to and who sincerely wants to help you.

"First you should know that we aren't going to 'make you' buy something," says McCabe, a 23-year veteran in the field. "I really love helping out first timers. If you tell me you want to buy a home, and are willing to go on the path I set out for you, I'll give you the steps and show you how to do it."

Once you find a Realtor (and you will, they are a likeable lot), the next step is finding a loan officer.

McCabe, who is now helping her clients' children buy their first homes, insists the first stop - before getting into a car to look at property - is the lending office.

"You can even talk to the loan officer on the phone, although it's nice to meet them in person and talk a little story - get to know each other," she says. " Try and stay away from the Internet. They don't know anything about our local market. And watch out for predatory lenders ... they're still out there."

Step 2: Get pre-qualified.
Once you've found a lender you like and trust, the next step is to talk numbers. The loan officer will ask you a series of questions about your income and your expenses to determine how much house you can afford.

"The loan amount is the first thing you need to know," says McCabe. "It's your road map."

Step 3: Clean up your credit report.
Part of getting pre-qualified will include checking your credit score - this may cost you $20.

If your score comes in low, you won't qualify for the best interest rates. The loan officer will advise you on what you can do to improve your score.

Step 4: Gather all your documents.
Basically, what you need to bring to the loan officer is the most recent tax returns, pay stubs and bank statements.

Step 5: Start your search online.
McCabe suggests using prudentiallocations. com to get familiar with the market and the neighborhoods.

"We can hand over to our clients the entire MLS book," she says. "That way they can see the solds and the pendings, educate themselves on prices and what they should offer.

HS