Get on the Right Track Toward Home Ownership | Red Rock Mortgage - Knoxville
Was one of your resolutions this year to buy a home? Our team at Red Rock Mortgage - Knoxville is here to help you make your resolution a reality by putting you on the path toward home ownership.
The Path Toward Owning a Home
Tired of paying out rent each month with nothing to show for it? Perhaps you are expecting a new bundle of joy this year and need more room? Whatever your reason for wanting to buy a home this year, our team is ready to help you start making your dream of home buying a reality.
Let’s take a look at some ways you can start preparing now.
First, put together a file that contains financial information to share with your mortgage lender. From 1099s and pay stubs to copies of your last three tax returns and a list of your liabilities and assets, you will need to provide this information when you are ready to speak to a mortgage lender prior to buying a new home.
Second, you need to be aware of your credit score. Your credit score will determine what type of loan you will be eligible for when applying for a mortgage and how high your interest rate is. So find out what your credit score is—and then take steps to improve it, by paying down debt and paying bills on time.
In addition, you’ll want to start saving money for the costs associated with buying a home, including a down payment and closing costs.
Finally, create a list of needs and wants for your new home. What are the essentials? What are areas you’re willing to do without? You want to have a guide to help narrow your search when finding your perfect home.
Are you ready to see what types of mortgage loans are available to you? Visit the Red Rock Mortgage Knoxville website today to see how we can help hand you the keys to your new home.