How Can a Home Buyer Best Prepare for a Home Purchase?

Hello Home Buyers!

In this video, I go over the general prerequisites that a buyer should check prior to buying their dream home!

Credit Score: Every bank has their own credit policy but shooting for 740 will get you the lowest rate with several lenders. 800 if you’re going with big box banks like Bank of America.

Debt to Income Ratio: Many lenders will recommend paying off your debts to reduce your debt to income ratio. Most lenders will max you out at 43% of your gross income. It usually takes 3-5 days to update the credit bureaus, so it’s best to strategize ahead of time before you lock in those rates.

Space vs. Location: It’s important to set your priorities before shopping for a home and decide which is more important to you, space or location. If you settle on this decision early in the process, you can make careful decisions and avoid the unsettling feeling of buyer’s remorse.

If you have any questions on the home buying process, feel free to contact me! I would love to sit down with you and help asses your needs to help you stay on track to reach your goals.