With interest rates still holding at an all-time low, it is a great time to buy a home, but are you ready? If you're not sure, check the list below and see where you stand.

  • Make sure the time is right. According to CNN, nationwide it is currently 38% cheaper to buy vs. rent.
  • Clean up your credit. Pay down debt, save as much money as you can for a down payment and closing costs, don't apply for new credit, and stay employed. Lenders like job stability.
  • Look at homes online and learn what you like. Make a wish list with likes and dislikes, so you'll know what you're looking for in a home.
  • Know what you can afford. It's not all about the monthly mortgage payment. When you own a home there are other costs to consider, such as property taxes, homeowner's insurance, and ongoing maintenance. The roof and H&A unit are not going to last forever.
  • Find out what type of loan is best for you and your situation. Talk to lenders about the different types of loans they offer, so you'll be ready when the time comes. 
  • Prove to homeowners that you're serious about buying by getting pre-approved. Better yet, pay the fee to go through underwriting upfront. This lets sellers know you've done you're homework and are REALLY serious about buying.
  • Find a Realtor and let them guide you through the process. Finding a good Realtor doesn't have to be the last step in this process, but it is a good idea to get all of your ducks in a row before looking at homes. It saves you time and heartache, in case you find your dream home only to find out later it doesn't fall within your budget. 

Call, text or email Shannon Copeland for all of your real estate needs!

270-205-0236    shannoncopeland@mchsi.com