Home Buying is a Process

In order to accomplish your goals, you need to prepare a monthly budget for the entire year.  Your main focus is that YOU want to be in control of your budget.  Do not let your debt and bills control you!

It’s critical to have a good credit score because without it, your mortgage lender would not approve your loan.  Check your credit score and upgrade it so you can qualify for a more favorable loan, with the lowest interest rate and the best terms available.

You might be surprised to learn that half of your mortgage payment may be going towards interest payments instead of paying down the principal loan balance.  That’s why it’s so important to start with the lowest interest rate possible, and pay down the principal as much as you can, as soon as possible.

Of course, we want to eliminate as much debt as possible, and we will discuss how to pay off your credit cards and loans.  Debt consolidation is a great start to paying off your bill and becoming debt-free By getting rid of debt, you will feel relieved because you won’t have as many bills to pay.  You will also be able to qualify for a larger loan, and, therefore, you can buy a better home.

We will discuss how to save money for your home.  Even if you’re going to get a zero-down loan with 100% financing, you will need some funds saved up.  You may need to pay closing costs, a home inspection, or upgrades to the home.  Learn to be a good steward over your financial resources and you will feel better about yourself because you will be in control of your future!

It is important to get educated about home ownership.  Read more in our book, "Buy Your First Home", http://tinyurl.com/cs4724e.