- Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
- Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
- Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
- Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price.
- Get your credit in order. Obtain a copy of your credit report.
- Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.
- Organize all the documentation a lender will need to preapprove you for a loan.
- Do research to determine if you qualify for any special mortgage or downpayment-assistance programs.
- Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.
- Find an experienced REALTOR® who can help you through the process.
Oops! We could not locate your form.
[testimonials_cycle theme=”light_style” count=”5″ order_by=”date” order=”DESC” show_title=”0″ use_excerpt=”1″ show_thumbs=”0″ show_date=”0″ show_other=”0″ hide_view_more=”0″ show_rating=”stars” testimonials_per_slide=”1″ transition=”fade” timer=”5000″ pause_on_hover=”true” auto_height=”container” show_pager_icons=”1″ prev_next=”1″ display_pagers_above=”0″ paused=”0″]
Jenny Kopriva is a professional Clear Lake Realtor with a focus on Clear Lake Iowa Real Estate and Clear Lake Homes for Sale. Contact Jenny today with questions or to find your next dream home!