You’ve learned a lot about buying a home. Let’s review some key points:
Before you start house shopping, consider whether homeownership is right for you at this time, and whether you’re really ready to buy.
If you decide you are ready, A good real estate agent can help you step-by-step through the homebuying process.
But remember: shop for your mortgage before you shop for a home so you know how much home you can buy. If you’re turned down for financing, there are steps you can take to strengthen your financial picture.
After you’re a homeowner, if the value of your home goes up and you pay your mortgage loan down, you may qualify for a home equity loan or line of credit, giving you more financial flexibility.
Finally, protect the home you’ve worked so hard to get. Use your credit responsibly, keep on saving, and be a smart money manager. Get adequate insurance and maintain your property inside and out.
Read a summary of the steps in the homebuying process. And, look for a first-time homebuyer workshop near where you live.