1.A� Decide how much home you can afford.A� Generally, you can afford a home equal in value to between two and three times your gross income.A�
2.A� Develope a wish list of what you’d like your home to have.A� Then prioritize the features on your list.
3.A� Select three or four neighborhoods you’d like to live in.A� Consider items such as schools, recreational facilities, area expansion plans, and safety.
4.A� Determine if you have enough saved to cover your down payment and closing costs.A� Closing costs, including taxes, attorney’s fee, and transfer fees average between 2% and 7% of the home price.
5.A� Get your credit in order.A� Obtain a copy of your credit report.
6.A� Determine how large a mortgage you can qualify for.A� Also explore different loan options and decide what’s best for you.
7.A� Organize all the documentation a lender will need to pre approve you for a loan.
8.A� Do research to determine if you qualify for any special mortgage or down payment-assistance programs.
9.A� Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.
10.A� Find an experienced REALTOR who can help you through the process.A�