Becoming a homeowner
Sometimes it's hard to pull the trigger on such a big purchase, we understand that. If you are a first time buyer we will work with you in the initial stages to determine whether you are ready for homeownership or not. We take the time to explain how mortgages work and what you can expect going forward with your loan. Here are some key points to determine if you are ready to dive into the housing market.
1) You have established fulltime, reliable, regular employment.
2) You have saved for a down payment (or are continuing to save).
3) You have additional funds for closing cost and a possible appraisal.
4) You can show good credit history. Meaning you can pay your bills on time.
5) You are ready to stay in one home for a prolonged period of time.
6) You can cover additional costs that come up with owning a home like home insurance or condo fees, property taxes + repairs and maintenance.
7) You have created a budget and you know how much you are comfortable spending each month.
8) You have worked with a mortgage broker to establish a pre-qualification.
9) You have started to work with a licensed realtor. They will help you navigate the purchase contract and finding the right home.
10) You are ready to build equity in a home and grow your personal wealth.