Thinking of buying a home? Here are some critical steps to take before you begin your home search:
1. Save for your down payment:
Contrary to common belief, your down payment could be substantially less than 20%. Start saving now- you might be closer than you think!
To-Do: Automate your checking account to pull a portion of your paycheck into a separate house fund.
2. Build your credit:
Your credit score is one element that helps determine which home loan you'll qualify for in the application process. It also impacts your mortgage interest rate, so a higher score could lead to a lower monthly payment.
To-Do: Stay on top of your loans and make sure to pay your credit card bills on time.
3. Connect with a trusted agent - The Kendall Green Luce Team:
We help you make strong decisions throughout the home buying process. We know the market and can guide you toward a sound investment.
To-Do: Let's connect to get your home buying process started today.
4. Get pre-approved:
A pre-approval letter lets you know how much money you can borrow and helps you determine how much home you can afford. It also shows sellers that you are a serious buyer.
To-Do: Contact a loan officer- we have great connections that we trust and would be more than happy to connect you with.