5 Steps to Become a Homeowner

Become a Homeowner

Making the transition from a renter to a homeowner should not be underestimated. There are many no costs and responsibilities that arise when you buy a home. Becoming a homeowner is exciting but make sure you get organized before investing your time and money into buying a house. Going from renting to buying can be a shock if you are not prepared.

Follow these steps and you will be closer to qualifying for the best home loan rates online

  1. Build your credit up so that you have a few credit cards and an auto loan that you have paid on time for a few years. Try and keep your credit scores above 700 so you have multiple home financing options.
  2. Save money so you have enough money for the down-payment, new furniture, the move and a few months of mortgage payments just in case of an emergency.
  3. Get Pre-Approved from a mortgage lender. This will help you understand how much the banks are willing to let you borrower. Ask for a pre-approval letter.
  4. Find a good realtor that has a good reputation locally.
  5. Know your limits Don't get talked into buying a home that you aren't comfortable with or can't afford.