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5 Things To Do To Get Ready To Buy A House


Written by Josh Ehle

Are you thinking of buying a home and don’t know where to start? Here are 5 things to do to get ready to buy a home.

1.       Examine your Finances and Budget: If you are not tracking how much you are spending in a given month, now is a good time to start determining how you spend your money and where. This will give you an idea of your total expenses and how a new mortgage can fit into that plan. You may even notice unnecessary spending habits that can help you get to your goal of owning a home with a comfortable mortgage payment.

2.       Have a savings plan: When you purchase a home there’s a good chance you will need money for the down payment and closing costs. If you haven’t already, start a savings plan and stick to it each month. This will be your first step in having the assets needed for a home.

3.       Know your credit: It’s a good time to understand how much debt you have, the minimum payments, and if possible what your score is. Make sure you are continuing to make your payments on time and if you aren’t making them on time, use your new budget to make sure you are doing so from here on out. Also, if you are planning on purchasing in the near future, it may not make sense to add any new debt such as a new car payment or placing a large purchase on credit if at all possible.

4.       Meet with a lender: Purchasing a home for some can seem like an impossible dream, but many are closer to purchasing then they may realize. Sitting down with a qualified lender to start the process can provide you with what you can afford today or provide some guidance on what you may need to do over the coming months. Following the guidance of your lender could provide you with the opportunity to buy sooner rather than later.

5.       Meet with a Realtor: Ask your lender for a Realtor recommendation. You don’t want a Relator that works part time and only closes 1-2 transactions each year. The lender will know what Realtors work in each market place and who can best assist you. A professional realtor in your local area is going to know the market better than anyone else. They can provide guidance based on what you are looking for in terms of location, size of the home, and other factors that may be important to you. This will help the realtor understand what you are looking for when you are ready to buy and make sure you are looking at homes that fit your needs and price point.

Following these steps can get you on the right track to buying a home. If you have questions about what it takes to get a mortgage when purchasing a home, contact Blue Adobe Mortgage today, and we will be more than happy to answer your questions.

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