I remember when I bought my first house, it was stressful.
I was in a little bit of student loan debt with no end in sight.
I wanted to buy a home, but no one really told me how.
So, I fumbled through the process and managed to buy a home. But I always thought to myself “That there had to be an easier way.”
I am going to give you 5 simple tasks you should accomplish to make home buying stress-free.
Step 1 USDA Home Buying – Know Whats On Your Credit
Start by pulling a copy of your credit report to see where you stand (annualcreditreport.com). The better your score is the lower your mortgage rate will be.
Be sure that you have paid off any debts that are past due and any that are close to the maximum credit limit.
Then work on paying your creditors on time; this will help improve your scores.
Step 2 USDA Home Buying – Get Out of Debt
One of the most important things you can do is to pay down your credit card debt.
This will help to improve your credit score and will increase the amount you can borrow when you apply for a mortgage.
Step 3 USD Home Buying – Save Up
Saving up can help you prove to yourself that you are ready to purchase a home.
It can also help you prepare for the extra costs that come with purchasing a new home. It’s important to have a guide to buying homes on hand, especially as a first time home owner.
Even though a down payment is not needed for the USDA loan, take the time to save up.
Having 3-6 months of mortgage payments in the bank prior to buying will make your approval process much easier.
Step 4 USDA Home Buying – Get Market Updates
As you get ready to buy a home start to pay attention to the market in the area where you want to buy.
This can help you understand what homes are selling for and what to expect when you start shopping.
It also gives you time to research schools in the area and other factors that may play a role in where you buy a home.
Step 5 USDA Home Buying – Set A Budget
The last and most important step is to set a budget.
You can do this by working in the additional costs of owning a home like utility bills, repair, and maintenance costs, and anything extra that you would pay for the mortgage.
The extra cash can be set aside for you as part of your Save Up step.
This will also give you a good idea of what you can afford for a mortgage payment and will help you get ready for when you purchase your new home.
USDA Home Buying Conclusion:
Buying a home doesn’t have to be stressful.
All it takes is a bit of planning and you will be buying a home stress-free.
