You’re home from the honeymoon and now you’re ready to find your dream house together, but neither of you know what to do first! Here’s a list of tips I’ve compiled for all you newlyweds wanting to start the process and all the things you should do to prepare to buy a home! Your dream house is just around the corner.
1. Assess your financial situation. What is your credit score? What about your significant other’s? It may be a subject you’ve avoided thus far, but now it’s time to buckle down and talk about it. This is a vital step to take as you prepare to buy a home – it can’t be ignored.
Before you even start looking at homes, you’ll want to know where you stand. Are either of your credit scores struggling? Work on fixing it before you go apply for a mortgage, that way, you limit inevitable complications.
Decide what kind of mortgage payment you can afford. You don’t want to bite off more than you can chew within the first few years of your marriage. Know where the both of you are financially and know what you can afford.
Finally, depending on timing and the conclusions you made during your financial discussion, start saving for a down payment. The larger your down payment, the better (in every way). If you’re having to fix up your credit for a few months, use the time to also save up for a down payment! Just prepare for all the costs that go into buying a home!
2. Plan out the next few years. Are you planning on staying here for the next 5-10 years? If so, getting a 20 to 30 year mortgage could possibly make the most sense for the both of you. You’ll also want to find a home that you can picture yourselves living in for a few years. Knowing your goals for the next few years will help when you talk to a realtor and a loan officer.
3. Talk to a loan officer before you start seriously looking at homes. You want to know what you can afford before you start looking. Click here to get pre-approved for a loan today.
4. Make a wish list for your new home. As you prepare to buy that dream house, you need to first decide together what you’re looking for in a home. You want to be on the same page. This will keep you from being like those couples on the “Love It or List It” TV show that can never agree on anything. Save the drama. Know what you want and what you need. This will not only make things easier for you and your realtor, but it can save you both from unnecessary arguments.
5. Call me! Once you have an idea of what you want and what you can afford, give me a call and we’ll find you that perfect home you’ve been dreaming about! Click here to find homes that fit your stipulations and give me a call! 480-415-5233
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If you want to learn about some financing options, or if you’re looking to get pre-qualified, contact Parker Turk at Sun American Mortgage Company: 602-616-3774.