There are 3 important things you need to do before you begin shopping for a home.

I know you’re excited, and you just want to jump right in, but there are a lot of obstacles that can pop up along the way, and you want to be sure that the decision you make is one you can live comfortably with for years.

1. First thing to consider, is having a plan to build the best down payment you can. I’m sure you’ve noticed that housing prices just keep on climbing. And yes, you have the option of putting 5% down and getting mortgage insurance, but this adds to your overall cost of buying. In the long run, the higher your down payment, the less interest you’ll pay – so start saving today, if you haven’t already.
2. Improve your credit score. Your credit score determines whether you’ll get a mortgage and what rate you’ll pay. The higher your score, the better your chances and the lower your interest rate.
3. Have a conversation about needs, wants and practicalities. Sit down with your partner and decide what you really need, what you can do without for now and what you’re willing to spend decades paying for. Go out and view some homes to see what’s out there and how much it costs – then set some firm guidelines and start budgeting. REMEMBER – your first home isn’t necessarily your forever home. This is going to help you get your foot in the Real Estate door and down the road, with equity, you will have more options.

Make an appointment to speak with a Licensed Mortgage Professional. We provide no cost assistance and advice to help you realize your dream of becoming a home owner.

Sincerely,
Kim