Thinking that 2017 is the year to buy a home? It’s time to get started NOW!
If you are worried about qualifying for a new home, the best way to get out of debt and take control of your money is to make a plan! Consider tips from Dave Ramsey (www.daveramsey.com) and his Financial Peace University. Many schools and churches offer classes. Ultimately, you need to create a budget by assigning a name to each dollar you make, then stick to the budget. There’s even a free app to help with your budget! (www.everydollar.com). As Dave says, “You’re doing the right thing for your family, even if no one else gets it.”
Involve your family in the dream! If you need to save money for your home purchase, start selling things that you haven’t used in the last year, use cash to purchase things rather than using credit cards, shop for bargains, saving every dollar you can! Dream with the family about what your new home might look like. If they are dreaming with you, they will get excited and the saving process will go faster and you’ll get less grief when you say ‘no’ to unnecessary purchases.
You should also connect with a local lender who is experienced in the type of financing available to you. There are no- to low-money-down loans for first time homebuyers, and depending on your eligibility, down payment assistance programs that will give you funds for your down-payment.
With interest rates scheduled to rise throughout the year, get a jump on things now! In most cases, owning a home can be cheaper than rent, so take the steps to get prequalified, and call us to start your home search!