9 Steps to Get You Ready to Buy a Home in 2018
- Stable Paycheck
Having a stable paycheck tells the bank that you can keep a job and thus, commit to regular mortgage payments.
Ensure you have ample savings to make up the loan difference as banks only loan up to 80% of the purchase.
Seek information and stay up-to-date on the latest trends.
- Credit Score
Having good credit scores will prove to the bank that you can honor your loan.
- Wants vs. Needs
Buying a home is a big decision but just because you want a 4-bedroom house doesn’t mean you need it. Decide wisely!
- Outstanding Loans
Take time now to be as close to debt-free as possible before you borrow or it will reflect poorly on you to the lender.
Draft out a plan of budgets based on what is comfortable spending for you to prevent running into extra expenses.
- Type of Home
Know what you want but also be realistic if it’s your first home.
- Mortgage Pre-Approval
Get pre-approved for a bank loan before jumping into the sales process. Doing so will let you proceed confidently.