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If becoming a homeowner in 2020 is one of your New Year’s resolutions, here are three tips to help you on your journey in the Roseville area.

Start with a balance sheet

Buying a home is a big deal, and you’ll want to put together a balance sheet to review finances.

This includes your debt, income and assets. Jot these details down and compile them with the estimated costs associated with buying a home like a mortgage bill, property insurance, taxes, HOAs and a down payment.

Gaining clarity on these details will set the tone for all the difficult and rewarding work that’s ahead.

Check/improve your credit

Regardless of where you think you are on the credit ladder, it’s important to get a full evaluation of where you stand.

Qualifying for a home will require a minimum score, but your credit ranking will also determine the interest rate you’ll pay over the life of the loan.

These are major financial considerations that you’ll have to keep in mind as you work on putting yourself in a strong buying position. There are steps you can take in both the short- and long-term to raise your credit score.

Get a preapproval

Before you begin shopping for a home, consider getting a preapproval.

By taking this step, you’ll understand how much home you can afford and just as important, you’ll have the blessing of a lender that is willing to sign off on your loan.

This lending commitment will also allow you to make a strong offer because it’ll tell the seller that you’re prepared and ready to make a deal.

If you want to take this big step toward homeownership, please do not hesitate to reach out to our office to learn more. We can help you with any preliminary steps you’ll need in preparation for the exciting journey ahead of you.

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