Why skipping the morning Starbucks isn’t enough!

Preparing financially for a home purchase can be a complex process, but there are several steps you can take to be in a good position to buy a home & that includes skipping more than the morning Starbucks.

Save for a down payment: You will typically need to make a down payment of at least 3-20% of the home’s purchase price. The more you can put down, the less you will need to borrow, and the lower your monthly mortgage payments will be.

Improve your credit score: Your credit score is an important factor that lenders use to determine whether to approve your mortgage application and what interest rate to offer you. Make sure you have a good credit history and score by paying your bills on time and in full, reducing your debt-to-income ratio, and checking your credit report for errors.

Get pre-approved for a mortgage: Before you start looking for a home, get pre-approved for a mortgage to determine how much you can afford. This will also give you a better idea of what your monthly payments will be. I can recommend a lender, if you are looking for one.

Budget for additional costs: In addition to the down payment and monthly mortgage payments, there are other costs associated with buying a home, such as closing costs, home inspection fees, and property taxes. Make sure to budget for these additional costs.

Find the right real estate agent: A good real estate agent can help you find a home that meets your needs and budget, and can guide you through the home buying process. I would be honored to help you!

Consider your long-term goals: When buying a home, it's important to consider your long-term goals, such as how long you plan to live in the home and what your future income and expenses might be. This can help you determine how much house you can afford and what type of mortgage is best for you.

Hopefully this is a huge help in preparing for your home buying journey.