Purchasing a new home?! Well here’s some tea honey!
May 23, 2017
Allow these do’s and don’ts to guide you in the right direction of purchasing your new home!
- 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
- 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