Buying a house doesn't have to be so stressful. Allow us to take over the process and guide you through it. We have unique options for you to obtain a flexible mortgage. We even have assistance programs that can help you with up to $ 7,500 for closing costs and down payment! Stop waiting for "the right time" - The moment is NOW!
Thinking Of Buying A Home? Here's How To Prepare For Home Ownership
Start by calculating your home affordability budget based on income, savings and expenses. Remember that down payments can be between 3.5-20% of the home price, but you’ll need insurance for the lower sums. Make sure your debt/income ratio is solid before applying for a loan. Also, remember that you’ll want a good credit rating and interest rate to lock in the best mortgage rate.) Learn more
~ WEEKLY HOME BUYING blog ~
First-time home buyers guide
The first step to preparing to purchase a home is to check the status of your credit. Why? Because lenders don't like to see debt or collections, they also don't want to see maxed out credit cards or major debt. The cleaner your credit is- the better. The easiest and free way to check your credit is to go through the three major credit bureaus and request your free annual report. Even if you think you have great credit, you want to make sure and check anyways. Mistakes tend to happen and you want to catch them and fix them before you start the homebuying process to avoid any hiccups. You can request your reports on this website, AnnualCreditReport.com.
Next you want to pay off the debt on your credit. You want to show that all your current payments are being paid on time. Some old debt can be settled, so you want to reach out to those companies and see about a payment plan or solution. It will take about one month for these changes to reflect on your credit. Our team can help you through improving your credit! We understand life gets in the way, we help you get back on your feet. You may not qualify now, but you will soon. Having a plan is the most important part. For those who are ready, great! We recommend you don't obtain new debt once we start the homebuying process to avoid any changes in credit therefore jeopardizing the loan you have been approved for.
The second step is to figure out how much of a down payment you will need to buy your home. The majority of people think they need a 20% down payment, but that does not apply to everyone. We like to help with your down payment if we can. You can purchase a home with as little as one month's rent. There are also programs where you only need 3.5% down. If this is your first time buying a home and your credit is in great standing then you will most likely qualify for some assistance. We work with private lenders so we can offer more flexibility with mortgage loans.
Last but definitely not least, you want to get a pre-qualification from the lender to see where you stand. They normally ask for basic information to see if you would qualify for a mortgage loan and check your approximate credit. If all looks good, you are able to get a pre-approval and that is when they will ask for you to submit documents such as proof of income, assets, identification, and authorization to pull your credit. They will let you know the loan amount you are able to obtain so we can start house hunting!