New Year’s Resolutions That Will Help You Buy A Home in 2020
If 2020 is the year for you to buy a home, consider making these 5 New Year’s resolutions to help you be as prepared as possible to become a homeowner.
1. Cut down on monthly subscriptions.
With each month, there is a new subscription service out there. What starts as convenience turns into an endless list of subscriptions that we often don’t use enough to justify the costs. Sit down and go through your monthly/yearly subscriptions and cancel whatever you don’t use. Set aside that extra money with the rest of your savings so your down payment can continue to grow.
2. Build a better credit history.
Paying bills on time and paying off debts will help create a solid credit history. Make sure you have some utilities or rent in your name so that you can pay them on time and continue to build a solid credit history.
3. Avoid changing careers.
Alongside income, your employment history will be a major factor during your mortgage application evaluation. While a new job could be a good career move, most evaluators are looking for a steady job history with little to no gaps in your employment over the last few years.
4. Check your credit.
If you don’t know where your credit is at currently, now is the best time to check. Most credit sites will tell you what is impacting your credit, and you can use those tips to change your choices heading into the new year. If large debts are negatively impacting your credit, get started on a pay off plan so your score can improve in the new year.
5. Avoid large purchases.
Your debt-to-credit ratio makes a major impact on your mortgage approval. If you buy a brand new car or fund a large vacation, that ratio could sway in the wrong direction. If you want your lender to be willing to give you the maximum amount possible, make sure you aren’t making any large purchases heading into the new year.
Author:Amy Deroin Phone: 402-690-1516 Dated: December 3rd 2019 Views: 405 About Amy: As your agent, I want you to enjoy this exciting process from the very beginning. Your home is your...
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Berkshire Hathaway Homeservices - Ambassador Real Estate and Divine Realty Group are dedicated to providing progressive, quality real estate services in Omaha, Lincoln and surrounding areas. These services include residential real estate services of existing homes, new construction and condos. Our Agents are dedicated to servicing our sellers and buyers. They are committed to maintaining an open line of communication, providing information on market data and trends, and creating that all important trust between client and agent. We look forward to helping you sell your home OR find that dream home you are looking for!