House buying jitters…

Wow, we have come along way.  We are so close to getting what we earned from all the sweat equity. 

We were suppose to move in this week, to our new home but this got pushed back.  Now we are sitting on boxes.  

What went wrong, we did everything we were supposed to do, right?

I have learned that real estate is something you just can’t control.  Well, here are some tips to help those of you who want to buy a home. #Newbies

What kind of mortgage do you want?  This may be the first and only most important question.  Straight from the government information about shopping for a mortgage.

Do you know what you qualify for? Of course not.  Don’t assume, find out. You will need to be more adult like for this because this can be stressful.  But, we can do it kid!

If you are a first time home buyer you may qualify for an FHA.  Now, do you have savings, about 15% to 20% of the mortgage you hope and intend to get approved for?  If no, FHA requires a minimum of 3.5% but your credit needs to be great (580 and higher), not good (570 and below) check our HUD Portal on this government website.

Other loans you may qualify for are rural loans. These require a zero down and your income will need to be low. Once you qualify onto hat end if you work in the city this may be a long commute.  To each is own, on that here is more information on the USDA Rural loans.

The dream is achievable.  Once you do your research on loans.  How is your financial health.  You know your credit score right, maybe not.  That is ok, go find out, stop dragging your feet.  

Do you have student loans?  Well whether they are $1.00 or $100,000 what you will need to make sure is that you are making your payments.  They can be the lowest payment possible as long as you don’t skip a beat.  

Other infractions, delinquency,  roll-offs, etc fix these issues.  Nobody will approve you if you have issues with this.  But don’t be overwhelmed the light shines at the end of this tunnel.   Map it out.  Give yourself a time goal. Figure how much you can afford to pay back and set the clock.  This will not only increase your score but paying off debt will probably most likely increase your line which changes your credit to cash ration and makes you more desirable to lenders.

Once your goal time, that you set is up on your calendar arrives rexheck the dusty list of to dos and probably the majority of your balances are paid.  Now, contact a lender, start with the bank you do business with.  They know you best.  If you are a active Union member try one recommend by them. Lastly, get a realtor or if you have one, they maybe able to refer you to a reputable mortgage company they know and have done business with.  

A realtor once gave me great advice, and what TJ told me (shout out to him). He basically said when you go shopping for shoes you always make sure to bring your money, so don’t go looking for houses if you don’t have money to buy it.  What he meant was don’t set your self up for disappoint, first see what you can afford. Yes, go to open houses if you want but you are really wasting your time and geting your heart hurt if you find something that you can’t afford. He also told me “don’t fall in love with house, fall in love with people” real estate isn’t an easy ride folks.  Doing your home work smooths out the bumps.  By the way TJ is our current realator and honestly he is great.  If you want his contact information let me know.  I would recommend him to anyone.  Hey TJ, don’t forget finders fee, just kidding. 

Seriously, now I’m sitting and waiting because we are completely packed and ready to move in. 

I  will follow up on when we actually move.  I hope my insight helped some of you nervous nellies.  

Just remember dreams come true.  You have the power, first you must manifest it.  Then you will see these dream become realities in real time.  

Don’t forget to have #fannytasticlife 

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