Financial Fundamentals for Homebuyers [INFOGRAPHIC]

January 22, 2021 By Tami Savage

Financial Fundamentals for Homebuyers. Thinking of buying a home? Here are some mission-critical steps to take before you begin your search. 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 list item: Automate your checking account to pull a portion of your paycheck into a separate house fund. 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 interst rate, so a higher score could lead to a lower monthly payment. To-do list item: Stay on top of your loans and make sure to pay your credit card bills on time. CONNECT WITH A TRUSTED AGENT. Real estate professionals help you make strong decisions throughout the homebuying process. They know the market and can guide you toward a sound investment. To-do list item: Let's connect to get your homebuying process started today. 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 you're a serious buyer. To-do list item: Contact a loan officer. Your real estate agent should be able to provide a trusted referral.

Some Highlights

When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses.
From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning.
Let’s connect today to make sure you have an introduction to a trusted lender and the best possible real estate guidance as you begin your homebuying process.

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