Home Buying Guide and Tips

Buying a home can be one of your most significant investments in life. Not only are you choosing your dwelling place, and the place in which you will bring up your family, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be. The goal of this page is to share my important tips to you in buying your first home. Here are my 3 tips for you.

* First, You need to know your credit score and get pre-qualified for a mortgage. Visit www.experian.com, www.equifax.com or www.transunion.com . Your Credit score is your negotiating power to get your best interest rates.Here are the rates according to your Fico Score.

FICO Score Avg Rates
760- 850 6.531%
700- 759 6.753%
680- 699 6.930%
660- 679 7.144%
640- 659 7.574%
620- 639 8.120%
600- 619 8.182%
580- 599 8.647%
550- 579 9.149%
500- 549 9.558%

* Second, Calculate your Debt to Income Ratio.This should be in the range of 36% to 45%.

* Third, know how much you can comfortably afford on your monthly house payment. Your monthly mortgage payment should be lesser than 26% of your monthly gross income.

Remember, if you have any questions about the process, I’m only a one call or email away!

If you don’t know your credit score and wanting to buy your dream home. Pls read Getting Your Finances in Order and Why Hire a Realtor.