<b>Pave the Road to your first home!</b>
Buying a home is one of the most important decisions you will ever make. It will take time, money and lots of energy. Before you get started, there are some things you will need to learn and do before making that huge purchase. One of the keys to paving the road to your first home is great planning. The first question you answer should be why do you want to buy? You also need to decide if you are ready. Most couples dream of owning their own home and being able to raise a family in it for years to come. The first thing you and your spouse should do is sit down and decide if you both are ready for this huge commitment. Sometimes it’s not always about the money, it’s about the energy it will take and the process you will have to go through. If you and your spouse intend to have children then buying a home is a great investment.
Another key to paving the road to your first home is finances, meaning do you have the money?
Homes and financing are closely intertwined. You will be happy to know that over the years new and innovative loan programs have evolved which require a 5 percent down payment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down. In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs. Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front. Those great loans with little or nothing down are not available to everyone: You need to have decent credit, which generally means a 580 or above.
Another component is making sure that your financial house is in order! In the excitement of searching for homes and thinking about how you are going to decorate, there is something important that every couple needs to be sure of and that’s taking care of bills and debt before attempting to purchase a home. Start now by paying all of your bills on time. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time. If you have a steady job and a reasonable credit history, there is a good chance that you can find a home lender who will lend you most of the purchase price of your new house. Home loans are also called "mortgages," I have discovered that this word comes from a Latin phrase meaning "pledge unto death." Lenders expect to get paid on time and it’s important to make sure that you are financially capable of assuming such a large amount of debt.
Don’t let the hard work and pressure of buying a home get to you. Buying a home will be fun and exciting, as well as time consuming. These are just a few of the things you will need to think about to pave your way to your first home!
To get professional advice and more information on purchasing a home call Vision Investment Corporation at 877-799-0820! Feel Free to visit the website at <a href="http://www.visioninvestmentcorp.com">www.visioninvestmentcorp.com</a>
<i>Annetta Powell</i>
<b>Queen of Real Estate</b>
