A new year brings much excitement and anticipation, but could 2019 be the year for a new home? Here are some quick New Year’s Resolutions to help you buy a home in 2019.
Resolution #1: Boost Your Savings
Instead of just thinking about saving, why not start the new year off right with a resolution to jump-start your savings and start putting away more for your down payment on your first home?
If you’re worried that the traditional 20% down payment may be too difficult to save in a year, there may be additional mortgage options that don’t require that amount.
Resolution: Ditch the daily Starbucks run and boost your savings!
Resolution #2: Check Your Credit
Have you checked your credit report? If not, you should do that right away. Many credit reports contain errors and you will need time to have those mistakes removed.
Your credit score is a very important variable that lenders consider when deciding on your mortgage loan. To make sure you get the best possible rates, it is never too early to start improving your credit!
Resolution: Check your credit score!
Resolution #3: Pay Down Your Debt
Your debt-to-income ratio is an important factor for lenders. To help you achieve a favorable rate, focus on paying down your existing debt as much as possible. This new year commit to paying more toward credit card debt, student loans, medical debt, and other debt streams. With fewer dollars owed, you will be in a better position to afford a mortgage once you buy a home!
Resolution: Brown bag your lunch and put the savings toward your debt.
Resolution #4: Start Building Your Home Purchase Team
Buying a home on your own is no easy task, which is why most home buyers opt to utilize the talents of many professionals along the way. The new year is the perfect time to start thinking about building the home buying dream team that can help you find your home and pay for it too!
Your team should include an experienced real estate agent that can guide you through the process and a licensed loan officer that can assist you with all of the intricacies of the mortgage process. Your real estate agent can also assist you with home inspectors, general contractors and a real estate attorney that can assist with repair negotiations and with your home closing.
Resolution: Commit to finding an experienced real estate agent and lender that can guide you to finding your new home!
If you are planning to buy a home in 2019, now is the time to commit to your home purchase! With a few simple resolutions, you could be living in your dream home this year!
We hope you have a very happy and prosperous New Year!
About Log Pond Realty
Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.
We can be reached via email at firstname.lastname@example.org or by phone at 919.589.3576.
We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.