Three things to consider for your homebuying budget

• May 24, 2024
• 0 Comments
• Lisa Pierre
• Agents, Broker, Buyers, Credit score, eclipse, First Time Home Buyer, Gross income, lets eclipse, Real Estate

1. Gross income- estimating how much home you can afford, comfortability with your budget and knowing your current finances are vitally important. Keeping abreast with how your income plays a major role in how much house you can afford is imperative.
2. Credit score – it is important to monitor and maintain a good credit score when preparing to buy a home. Eligibility for grants and competitive mortgage rates rely heavily on your score. Monitor your score months before applying for a preapproval that way you will be in the know and ready to move forward when you feel the time is right.
3. Down payment – depending on your loan you will need between (3-20%) down. As they say the more the merrier, aim to put down as much as you can however there are many grants and programs that offer assistance for down payments and closing costs which has location perimeters and income limits.

Who you work with matters. It is important to team up with a real estate professional that can drive you to the close not just expeditiously but with your best interest in mind.

Let’s eclipse!