Are you ready for home ownership?

​Here are 5 key things you need to prepare for Home Ownership: 

1. Meet with an experienced Mortgage Loan Officer to get pre-approved:  A Mortgage Loan Officer will be able to tell you where you stand as far as credit and how much you can afford to purchase.  Also, if there is anything derogatory on your credit, you will want to address this early on.  
2. Attend a Home Buyers Education class:  Knowledge is power!  Home Buyers Education will give you the knowledge you need to know concerning home ownership - such as the importance of a Home Inspection, Homeowners Insurance, Attorney Information, etc.  Home Buyers Education classes also opens the door for certain Down Payment assistance programs.  
3. Understand Your Student Loan debt:  Who is the servicer?  When are your payments due?  Is consolidation right for you?  Student loans will be even more important moving into 2017 - you will need to understand this now more than ever!
4. Start Saving & Budgeting: This is very important in this process as a home buyer. This will show you how you will pay for certain things like a Home Inspection and Appraisal Fee.  There can sometimes be surprise fees that come up during this process that you won't want to slow down your purchase because you had no liquid money available.  
5. Know WHAT you want to purchase and WHERE:  But be flexible…do a dry run on the area where you want to purchase.  If you have children, check the school system, playground, libraries, markets, etc.  

 
Let me know what some of your biggest questions are when it comes to purchasing a home.  Leave your comments below!

Til next time, 
​Cat