A Step-By-Step Guide to Purchasing a Home in One Year
Buying a home can be overwhelming. From getting pre-approved for your loan to closing the deal, there’s a lot of steps that go into finding your dream home. So where do you begin?
Take a look at this simple step-by-step guide to purchasing a home in only 12 months and avoid common mistakes that most first-time home buyers are privy to:
Steps TO Purchasing a Home in One Year
CHECK YOUR CREDIT
CREATE A SAVINGS STRATEGY
CHECK YOUR CREDIT
- Before applying for a mortgage, it’s beneficial to know your credit score. Get your free credit report at annualcreditreport.com or check with credit bureaus like Equifax, Experian, and TransUnion.
- Check your report for accuracy and dispute any errors if necessary. Incorrect credit scores can lead to higher loan rates.
- The higher your cred
- Before applying for a mortgage, it’s beneficial to know your credit score. Get your free credit report at annualcreditreport.com or check with credit bureaus like Equifax, Experian, and TransUnion.
- Check your report for accuracy and dispute any errors if necessary. Incorrect credit scores can lead to higher loan rates.
- The higher your credit score, the better loan you’ll qualify for and the more money you’ll save in the future.
TRACK YOUR BUDGET
CREATE A SAVINGS STRATEGY
CHECK YOUR CREDIT
- Figure out exactly how much you can afford on your new home. One of the first steps to getting your finances in shape to buy a home is tracking your income and expenses each month. Use the next year to budget and save for your dream home.
CREATE A SAVINGS STRATEGY
CREATE A SAVINGS STRATEGY
CREATE A SAVINGS STRATEGY
- The thought of a down payment may seem daunting, but it doesn’t have to be. Start saving early so you can pay off the down payment on your mortgage and save money with a better interest rate.
- Keep in mind that the funds in your bank account should be stable 60-90 days out from applying for a loan.
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