03/17/2023
WELCOME to my 1st Financial tip Friday!!!
Are you over paying rent or living with family? Want a place to call home and raise your family? Buying a home can be overwhelming. The 1st question is what can you afford ? 2nd question is where do I start?
✅ - Check your credit score - Having a good credit helps with interest rates. Pull your credit report once a year. Know what’s in your report.
💵 - Cash flow is an essential part of the process. This helps you decide what you are able to afford for a monthly mortgage.
📉 - What’s your debit to income ratio? It’s your gross income divided against the sum of your monthly payments. < 15% 👍 15%-20% ⚠️
👩❤️💋👨- a good realtor that has your families best interest. Fun fact our 1st realtor we had 17 years told us we didn’t need furniture to just buy big pillows to sit on 🏦for now🤯
🏦- Get pre-approved. This will tell you the max you are approved for to buy a home. You will at least know your range and know what you’re comfortable paying your a monthly mortgage.
Get out there and talk to people that can help you with your goals of buying a home. Tag someone you may know who is looking to buying a home and this information can help them.