Always had a dream of owning a home?

Dated: July 7 2020

Views: 384

Keeping the Homeownership Dream Alive Buying and owning your own home is no easy task, and there are moments on everyone's journey when they feel like it's impossible. However, there are plenty of resources available to help make your dream of becoming a homeowner a reality.

The first step you should take when you're ready to consider buying a home is to check your credit score and/or start building your credit. Lenders want to see that you’ve been able to pay back borrowed money on time, and without missing payments or defaulting on the loan. If you have a poor credit score, you'll need to spend the next several months, or even years in some cases, improving it by paying off any debt you currently have and making sure to make all payments on time in the future. This is a great time to find a mortgage loan officer that you trust. They will periodically check in on your progress and make any suggestions to further improve your credit score.

Another way to keep your dream of homeownership alive is to start saving NOW, at whatever stage you’re at. Putting aside even a few dollars here and there will be a step toward that dream. When you're ready to purchase your first home, you'll need to make a down payment and you’ll be responsible for all the services and expenses required to finalize a mortgage at the time of closing. These typically cost between 2% to 5% of the total loan amount. So, get in the habit of putting some money aside from every paycheck to help fuel your dream of owning a home.

When the time comes for you to start looking at houses, tell your realtor your budget upfront. Contact your mortgage lender to get pre-approved for this amount. Remember to take into consideration your down payment and closing costs. This will make sure your realtor only shows you homes that you can afford, to avoid the stress of trying to figure out how to make payments on a home you love but can't afford.

In the end, remember not to get discouraged. Even if you're not able to become a homeowner right now, that doesn't mean that you won't in the future. Utilize your trusted loan officer and realtor to help you decide when you're ready to buy a house and to help you stay within your desired price range. Your dream of homeownership is closer to coming true than you might think! 

Blog author image

Samanthia Ramsey Brunker

About Samanthia Ramsey Brunker- I have a Client-First Philosophy! I Love Real Estate! That is why I became an agent back in 2001. I enjoy helping Buyers and Sellers achieve their Dreams! When I am not....

Latest Blog Posts

Tips to keep your white kitchen clean and maintained!

Do you love modern White Kitchens? Tips to Clean and Maintain Your White CabinetsSleek, white kitchens are one of the most popular trends in interior design. Bright and cheery white tiles, sinks,

Read More

Selling your first home and need help? I am here for you!

Thinking of selling your first home? We can help you!There is a lot of attention paid to first-time homebuyers. Most real estate agents and lenders have some kind of guide to help first-time

Read More

We love listing homes in the winter! Here is why....

Advantages of Selling a Home This Winter:Home sellers and real estate agents often fear the winter months because it seems like a poor time to list. The truth is that winter can be a great time to

Read More

Protect your identity! Ways to help to this here!

Looking for a Mortgage? How to Protect Yourself from Identity TheftNothing is more stressful than shopping for a mortgage and realizing your credit score isn’t what you expected. Worse still

Read More