Looking to Buy a Home in 2022? Make Sure to Follow This List First.
It's safe to say that the housing market in Houston is on fire. Housing prices are going up, and there seems to be an increase in people looking to buy. With the market being so competitive nowadays, any potential homeowner needs to be as prepared as possible before they even start their hunt.
If you’re looking to buy a home in the new year, follow these steps to ensure you’re set up for success.
Step 1: Improve Your Credit
A healthy credit score will help you cinch a lower interest rate on your mortgage. Before you apply for a mortgage, make sure to focus on paying your bills on time and in full, while keeping your credit utilization rate low.
Step 2: Lower Your Debt-to-Income Ratio
In addition to your credit score, your debt-to-income ratio is an important factor in getting approved for a mortgage with a low-interest rate. But you don’t only want to focus on lowering your debt - look into different methods of increasing your income. Ask for a raise or pick up a side hustle to amplify your finances.
Step 3: Look Into Down Payment Options
A hefty down payment will lower your monthly mortgage bill. Fortunately, there are plenty of down payment assistance and first-time homeowner programs that can help you with payment help. It doesn’t hurt to look, so get to researching!
Step 4: Create a Strategy With Your Realtor
It’s never too early to talk to your realtor, so get in touch with 4809 today! We are here to help you create a perfect home buying strategy for 2022. When you work with our team, we won’t rest until you are settled into your perfect home.
Let’s get started with your home buying process, together.
Contact 4809 Realty today and we’ll set up a consultation so we can hit the ground running in January.
