07/31/2022
Following these 6 steps you will be able to determine what areas you can afford, how much you can put down on your new home & what monthly payment you’re comfortable with. You should start working on your credit and paying down debt at least 1 year before you want to purchase your new home. 6 months before, focus primarily on saving for your down payment. Planning out how much you can save for your down payment & closing cost will essentially determine how much home your can afford. During this time you should also consider what neighborhoods and style of home you can afford. Be realistic about what you may have to compromise on to stay in budget. Once you get to the two month mark of looking to purchase a new home, you can start shopping with multiple lenders. It is very important to compare mortgage rates & type with different lenders. This allows you to find a competitive rate and see what multiple lenders have to offer you. Also consider your experience with the lender or loan officer. Educate yourself on the late fees, the mortgage origination fees, if there are prepayment penalty’s and more. After you decide on a lender, the next step is to get pre approved! Once you have your pre approval letter from your lender, you will know exactly how much you can spend on a home. This when you reach out to me, and we can start the search process for your new home! 🏡
❤️Please feel free to leave any questions you may have below ⬇️
If you’re looking for a reliable and educated Realtor®️, look no further. I am here to assist you with all of your Buying, Selling, Renting and Investing needs.
Elyse Penn REALTOR®️
Merritt Realty Co.
📞 470-662-0043
📧 [email protected]
ALWAYS ACCEPTING NEW CLIENTS✨
