The 2024 House Hunt Hustle: Top 5 Prep Steps!

Dec 13

The key to buying in 2024 is 🥁 preparation!

Acquiring a home is a significant achievement, yet the real estate scene is fiercely competitive, particularly for mid-priced, affordable houses. Success in a heated market hinges on thorough preparation; the most prepared buyers stand the best chance of outpacing the competition.

Here are the top 5 steps for preparing to buy a home:

🧑‍💼 #1

Find a great agent. (Done. 😉)

📈 #2

Prepare your taxes appropriately. Preparing taxes accurately is crucial when buying a home because your financial stability and creditworthiness, as reflected in your tax returns, significantly influences mortgage approval. I can refer you to a local tax professional who can assist!

💳 #3

Check your credit. When you qualify for a mortgage, the rate you receive is shaped by your credit score. A higher score typically means a lower mortgage rate.

💵 #4

Save for a down payment. Unless you’re eligible for VA or USDA loans, making a down payment is essential. Conventional loans usually require 3% to 5% down, and an FHA loan mandates a minimum down payment of 3.5%. Save up!

✅ #5

Get pre-approved. Obtaining a pre-approval letter requires completing a mortgage application and supplying your lender with supporting documents like tax returns, paycheck stubs, W2s, and financial statements. I will be happy to connect you with a few qualified local lenders upon request.