October 11, 2019 at 2:46am | Barb Huntley
It’s not creating home inspiration boards on Pinterest or touring open houses. The first thing you need to do if you are serious about buying a home is to secure your finances.

You’ll need a good credit score to secure your mortgage. Head to your bank or find a reputable mortgage company to find out what your credit score will allow you to afford. If your credit score isn’t as good as you thought it was, work to improve it over the next 3 months and then apply for a mortgage.

Figuring out your financing isn’t the most thrilling start to your house hunt, but it’s the most practical. You need to know what you can afford before you start looking. This will narrow down your home-buying options and set you up to be in control of your finances going forward. The worst thing you can do is get a mortgage that pushes your price range – it will lead to a tight budget in your household in your future.

If you haven’t talked to a lender about your mortgage options and you’ll still in the window-shopping phase, opt for mortgage pre-qualification. This will give you an estimate of what you can afford but will not bind you to any contracts. This is the best route for those that don’t plan to buy for half a year or longer.

Unsure of what stage you are at but know you want to buy a home in the next year? Give us a call and we can help you figure out where to start! 907-830-3555.

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