If this is the year you are determined to buy a home, there are some items that will help you reach your goal. Kay Carlson Realtor suggests a few helpful habits to start before you begin house hunting in Prescott.
Immediately and then annually –
Check your credit report. Do you even know what your credit score is? If not, or if you haven’t done so recently, now’s the time to check.
Deny yourself some of those unnecessary extras, like that afternoon coffee beverage, your cable TV subscription, going out for dinner, or buying impulse items.
Open a special “new home savings account,” and make weekly deposits of the money you are saving daily. Watch the money grow. By doing this you can come up with a 20% down payment for your mortgage. The larger your down payment, the smaller your mortgage, meaning you will pay smaller monthly payments and avoid paying mortgage insurance.
Pay all your bills on time. To qualify for a mortgage at a decent interest rate, you’ll need a credit score that is at least in the 600s. The best way to keep your score high is to be in the habit of paying every single bill on time. Timely payments are especially important for auto loans, leases, and credit cards, since mortgage lenders look there first when checking reliability. If you are renting, bills include your rent, too. In fact, when you’re going into a home purchase, you sometimes need a referral from your landlord.
The New Year is always a good time to begin new habits, especially those that will help you with a home purchase. When you are ready to begin house hunting in Prescott, and want the benefits of hiring an agent devoted to your goals and committed to your best interests, call Kay Carlson Realtor at 928-710-4193.