Question

I’m really hoping to buy my first home at the end of the year or beginning next year what are some tips you can give me? (Working on my credit)

Answer 1

Be patient and wait until you have 20% to put down and at least 3 months of expenses set aside. Things always break or you will need new things. Look at your home purchase from an investment perspective. is it in a good school district. am I buying at the height of the market. etc. home ownership is a good idea if you set yourself up to be successful. We rented an extra three years to save up all the money and don’t regret that one bit

Answer 2

Make sure to account for closing costs in your budget or try to get them covered by seller. Look into first time home buyers program in your state. I know in my state you would only need 3% down for the program.  

Answer 3

From first applying til close do not under any circumstances open any new lines of credit/loans etc. Mortgage companies can deny a mortgage near closing if you do anything drastic to your credit during the homebuying process.  

Answer 4

Talk to a mortgage lender now to find out what you can qualify for as well as steps you need to take relating to your credit. They can also help you with how much cash you will realistically need both for the purchase and to have in savings.  

Answer 5

Don't forget to save up for moving costs and the "new house" costs (the stuff you end up buying after moving to the new place like new garage bins, shower rods, or any other knick knacks that are unexpected). Like a new house emergency fund so this was you don't have to touch your real emergency fund

Answer 6

Have a good amount of cash saved because stuff always breaks. Plumbing, windows, garage doors.