July 16th, 2014 1:17 PM by Cheryl Cabanski
There are a lot of things that you can do in order to make sure you can afford that dream home you have always wanted. Here are a couple of easy steps that you can take.
The first is analyzing your income. Knowing how much you can afford before going into the transaction is going to make it easier to stick to a budget. This might even give you more motivation to see if you can lower the asking price on that home that is just slightly too expensive!
Many people have thought that you need to have at least 20% down, but this just isn’t the case anymore. Many places will sell with a down payment that is even lower. Working on your credit score will also help with this; they are more likely to look at you favorably when they see that you have paid your bills on time in the past.
The second is to check into programs that are available for you. You will need all the help you can get when it comes to keeping track of your payments, so you will want to find out what all of your options are.
The third is to keep in mind that documents are extremely important! If you are applying for a loan, there is going to be a lot of paperwork involved. This also means when you are preparing a loan as well- because they will need a thorough background of your payment history,
This is the biggest purchase of your life- so be prepared!