The 4 Steps to Buying your First Home
Are you ready to buy your first home? Are you sick of paying rent every month when you know that you have enough income to buy a home? Take the steps to buying your first home now!
There are certain steps that need to be taken to buying your first home. First, you will want to get a copy of your credit report and your credit score. This is necessary so that you know what the lenders are going to be looking at.
There is no point in wasting time with lenders that you won’t get financed through or that will charge you too much for financing. If your credit score is over 640 you are in pretty good shape and can probably get financed through your bank. If you are below that, but still above a 550 you can find financing through a non conventional lender like Ameriquest or and number of others.
If you are lower than 550 you can still find financing it might just require a little bit more money down. There are other programs that we will discuss later on that can and will help, though.
The next step will be to find the lender. If you have a high credit score just use your local bank, and if not lendingtree.com is a great service that can help you find a lender.
You are also going to need to find a house. This is kind of an obvious step, but it is not incredibly simple. I recommend a local real estate agent with a good reputation. Talk to your lawyer or accountant, if you have one, for advice on this one. If you don’t have a lawyer or an accountant ask around and check your yellow pages. You definitely don’t want to settle on a below average real estate agent.
You will also need a down payment. Now depending on your credit you may need 3% down or as much as 15% down. Your income is also considered into this step. If you don’t have a lot down, don’t worry we will discuss this later.
Now you have put it all together. You have a down payment, you have found a lender, and you have found the home of your dreams. Now go to it and buy that home and move in.
Now I know that there is a lot more to buying a home than this article can cover. This is just an outline. There are many more details at the website that is featured in my bio.
Ready to buy your first home? Sick of paying rent and getting nothing in return? It doesn’t matter if you have perfect credit, no credit, little down, no money down, or horrible credit, and I mean horrible credit. Go to the following website for more information on buying your first home.
I promise you won’t regret it! www.ready-repair-my-credit.com/firsthome.htm
