Owning your Own HomeTerry Riffe | June 9, 2015
A home is where we make memories, build our futures and feel comfortable and secure. Homeownership is also one of the best ways for individuals and families to build financial security over the long term. While the decision to own a home is a personal one, for people with good jobs and strong credit, today’s low mortgage interest rates and affordability make now a good time to buy a home
Buying a home is one of the most important decisions of your life, and it’s easy to get swept up in the emotion of it. I can provide valuable counsel, discuss listings, show you homes in person, negotiate on your behalf and help you stay focused on the emotional and financial issues that are important.
For example, before beginning the home search process, you should determine what you can afford. Today’s tight credit restrictions are preventing some qualified buyers from becoming homeowners, so you should carefully evaluate your income, savings and credit reports and collect documentation of income and cash available to prepare for the mortgage process.
There are simple ways to make yourself more creditworthy to lenders, such as not closing any credit accounts within six to 12 months before applying for a loan, keeping older accounts open even if they are not being used, since they can factor into your credit score. A lender will evaluate your income, savings and credit history to qualify and approve you for a loan amount. But, don’t forget to calculate the cost of things like taxes, insurance and utilities into your budget.
Once you have all of your financials in order, you need to consider what you want and need in a home. Determining the size, location and amenities that are important to you is the first step in your house hunting journey.
Finally, remember that all real estate is local, so it’s important to work with a REALTOR® that is familiar with your desired community.
For more information on finding the right REALTOR®, or if you are ready to begin your home buying journey in the Four Corners area – call me 1(407)800-0888 or send me an email firstname.lastname@example.org .