6 Signs That You're Ready To Buy a Home
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1-You have a stable income and employment. Before you start looking for a home, it's important to make sure you have a stable income and employment situation. This will make it easier to get approved for a mortgage and ensure that you can afford the ongoing costs of homeownership.
2-You have a good credit score. Your credit score plays a big role in determining whether you'll be approved for a mortgage and what interest rate you'll be offered. It's a good idea to check your credit score before you start looking for a home to see where you stand. A good credit score is generally considered to be above 700.
3-You have saved up a down payment. Most mortgage lenders require a down payment, which is a percentage of the purchase price of the home that you pay upfront. The size of the down payment can vary, but it's typically at least 6-7% of the purchase price. It's a good idea to save up a down payment before you start looking for a home, as it will make it easier to afford the monthly mortgage payments. To understand the amount of down payment required, make sure to book your free consultation below.