Are you ready to you buy your first home?

Not sure if you’re ready to buy your first home? Do you have a stable job and good credit? Your own home could be right around the corner. Home buying is more accessible than many people think and lenders today have great programs for first-time home buyers. Here are a few key points to consider:

Check out your budget

• The general rule of thumb is to spend no more than a third of your monthly pre-tax income on housing.

• You can use our mortgage calculator here.

Break into your piggy bank

• Confirm that you have enough cash on hand to cover insurance & closing costs, in addition to your down payment.

• A down payment of twenty percent is standard, but there are options available for smaller budgets.

Get pre-approved & pick the right loan

• Here's where the good job and credit score come in, you'll need those to get pre-approved.

• Shop around to choose a loan that makes the best sense for your personal financial situation.

• Interest on a 30-year loan will be higher than a 15-year, but the longer term can help to make your monthly payment more budget-friendly.

Happy house hunting

Once you've prepared yourself financially, you're ready to find the perfect house. Make sure you understand any contracts you sign and don't rush things. You could soon be the proud owner of your first home!