Author: Tim Mooney, Vice President | Mortgage Loan Officer
- SAVE-SAVE-SAVE…Start to save early for that down payment. 10% would be good, but 20% would be even better! You can do it with less but your cost could be higher.
- Maintain good credit and pay your current bills on time. This will avoid any late charges that can show up on your credit report.
- Ask yourself… Am I ready to commit to a loan? Is my income stable and steady? Do I have at least 3 months of expenses saved up in an “emergency fund” for those unexpected expenses or events that may come along?
- Ask your bank for a pre-approval so you know ahead of time what you qualify for and what you can afford to buy.
- Stick to your budget and don’t talk yourself into that house that may be a little bigger or nicer, thinking “it’s only a little more”.
If you have questions, contact one of our mortgage experts at 217-268-4911.