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Home ownershipBuying a home is one of the largest investments you will make, so it’s important to be well prepared before taking the leap.

Follow these tips to prepare your finances for home ownership.

 

  1. Get your credit in order.

Your credit is a large factor in determining whether or not you qualify for a mortgage, so it’s important that you determine your credit score at least three months before buying. The higher the score, the easier it will be to qualify for a mortgage.

To access your scores, either purchase them as you get your free reports from Annual Credit Report Request Service, or pay for them when you buy your reports from the credit bureaus:

Equifax  –  www.equifax.com / 800-685-1111

Experian  –  www.experian.com / 888-397-3742

TransUnion  –  www.transunion.com / 800-916-8800

  1. Prepare for expenses before you buy.

Understand and plan for what you will need to spend before the actual purchase. According to a recent article, you’ll need enough cash for a down payment, closing costs, and a few months’ worth of mortgage payments. Figure out what you will need for extras like moving costs, furniture, and repairs.

  1. Know how much you can afford.

Before you jump into a contract, you need to make sure it’s something you can actually afford. List and total your monthly expenses, then subtract that from your monthly net income. Here’s a good rule to keep in mind: your total housing costs should be no more than 30% of your net pay. Also, remember that a larger down payment of about 20% or more can save you hundreds and even give you more buying power.

  1. Have trade lines.

Did you know what most lenders prefer if you have three of more trade lines that have been open for at least a year? These can range from credit cards and students loans to a car loan. You should also avoid closing them because it can hurt your credit score.

  1. Do your research.

Above all, it’s crucial that you do your research before buying your new home. In addition to the price of the home, you must always consider other factors such as property taxes, homeowners insurance, utilities, maintenance, and repairs.

  1. Consult a real estate professional.

The right real estate professional can walk you through all the steps for preparing to buy a home.  Whether it’s your first home, your forever home, or a vacation retreat, the right real estate pro can not only help you get ready, but negotiate the best deal and help you navigate through financing, contingencies and closing.  The best investment in buying a new home is in choosing the right partner to help you through.

For previous questions, www.sonjabush.com

Source:  Courtney Soinski, The Real Estate Book

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"Thank you so much for your guidance and expertise in helping us to buy our dream home.
I am so grateful for your hard work and patience with all our questions at every step of the process. I genuinely trusted that you were looking out for our best interests and had our backs throughout this exciting and stressful process."

-Andrew & Cara

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Whew! This was only a 7 day escrow and we did it! So many offers on this one but the CASH offer with a quick close was just what my client was looking for! Thank you to Sara Knadler for bringing a quality buyer and for a smooth transaction. Sierra Escrow made it happen!

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OPEN HOUSE
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Sunday, May 22
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OPEN HOUSE
33 Kelley Road

Sunday, May 22
10 AM - 1 PM

Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
...

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I know it's something we don't want to think about... but with technology today a seller can be listening or recording you while you view their home. Make sure to be conscious and aware of that and always share your opinions outside or quietly.

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Make sure to show your love and support as we go into the busy summer season to all the amazing workers who make Mammoth such an amazing, beautiful, and safe place to live. Thank you to all our rangers, forest service, hospital workers, police, first responders, SAR members and more!

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Forty years.
40 years.
F.O.R.T.Y. years.

May 12, 1982 we said “I do.”
In sickness and in health.
For richer for poorer.
In good times and bad.

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