Purchasing a new home?! Well here’s some tea honey!

May 23, 2017

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Allow these do’s and don’ts to guide you in the right direction of purchasing your new home!

Do’s 

  • Save, Save, Save! Have at least 20% down payment
  • Manage your credit score- Your utilization rate should be below 30% and you should not owe anymore than $3,000
  • Don’t forget about closing costs- Be prepared to pay anywhere between 2%-5% of your homes purchase price upfront
  • Emergency savings is a must- Have at least 6 months of living expenses put aside

 

D on’ts 

  • Change employment- Before or during your application process
  • Make major purchases- Around the same time as a mortgage application
  • Take on a mortgage you don’t think you can handle long term