So, you think your ready to buy a home? Well, before you jump right in, here are a few questions to ask yourself.
#1 Did you just start a new job? you know, Lenders like to see at least 2 years at the same job.
#2 Do you know your credit score? The higher your score, the better your interest rate will be.
#3 Have you saved for a down payment? most loans required at least 3% down plus room for closing costs.
#4 Do you have a lot of debt? This amount highly effects how much you qualify for.
#5 What kind of house do you want? How many bedrooms? how much space do you need? How far are you willing to compute to work.
#6 Are you financially secure? Plan to spend 1% of the purchase price per year on repairs and maintenance.
and #7: Do you have plans to stay for awhile?
Generally speaking, real estate is a great long term investment but can take up to 5-7 years in normal market conditions to make a profit when selling.
I would love to help you get started so download my free buyers guide today.