Financial Tips – Saving for a Home & Pre-Qualifying for a Mortgage

Financial Tips – Saving for a Home & Pre-Qualifying for a Mortgage

Getting ready to buy a house? There’s a lot to consider, but you don’t have to figure it out on your own! Here are our top 3 tips to consider before your first home tour with your agent:

  1. Know Your Budget
    Consider what you need to know to create a budget that will work for what you need.In addition to a down payment consider saving for the closing costs, brokerage fees and the moving process. Knowing what all your budget accounts for will give you more clarity during the home searching and closing process. Knowing your budget allows you to be realistic in your offers, as well as what prices you’re will to walk away from if needed.
  2. Nurture a Healthy Savings
    You need to do more than know your budget, you need to know what is needed to make it happen. Cultivating a savings doesn’t happen overnight, it takes time and consistent effort following a plan. You can use apps designed to help you create savings over time like Mint or other budgeting apps.
  3. Get Pre-Approved
    Did you know getting pre-approved can make you a more desirable potential buyer to sellers? Not only that, but it could help to strengthen your confidence as a buyer. Getting pre-approved gives clarity while searching to limit your options to what is realistic.  Have you been thinking about starting the pre-approved process and feeling overwhelmed? You’re not alone, don’t let what you don’t know keep you from making informed choices. Doing research can help build confidence and get you pre-approved before you view your first home!

Consider these tips and get started today! And when you’re ready to buy, our agents will be here to help you navigate the home buying process and get you into your dream home.


Recent News

As summer settles down and we move into the cooler months, you might think you have to wait to find your dream home til next year… Think again! While the winter is considered real estate off-season, there’s a lot of benefits to moving at the end/beginning of the year while the weather’s cold.  Here’s our … Continued

When Mack Farquhar entered the real estate industry in 2015, it didn’t take him long to discover a vision for the way things ought to be better. Out of that vision, Mack started The Farquhar Group and shortly after that he began flipping houses. At the end of 2016, Mack started flipping homes and has … Continued

Buying a home in today’s market? It’s not as crazy as you think. Here are 5 tips you don’t want to miss for first time homebuyers looking to find their dream home. Save for a down payment and then some.Most first time homebuyers will begin saving for a down payment, but then feel strapped when … Continued