Coldwell Banker Sea Coast Advantage
Frances Warner, Coldwell Banker Sea Coast AdvantagePhone: (910) 233-7030
Email: [email protected]

Determine How You Will Afford a Residence

by Frances Warner 10/22/2018

Anyone can buy a home – all it takes is hard work and diligence to evaluate your home financing options. Fortunately, we're here to help you streamline the process of finding the financing that you'll need to pay for a residence.

Now, let's take a look at three tips to help you determine how you will afford a house.

1. Take a Look at Your Current Financial Situation

Put together a monthly budget that outlines your current spending patterns. This will enable you to review how much you earn, what you're paying for housing and other pertinent financial information.

After an in-depth review of your current financial situation, you'll be better equipped than ever before to determine how much you can pay for a house. Then, you can create a homebuying budget to help you move closer to acquiring your dream residence.

2. Get a Copy of Your Credit Report

In all likelihood, a lender will receive your credit score to determine whether you are a viable candidate for a mortgage. If you request a copy of your credit report today, you can learn about your credit score and take steps to improve it before you apply for a mortgage.

The three major credit reporting bureaus (Equifax, Experian and TransUnion) provide one free copy of a credit report annually. If you submit a request for your credit report, you can gain unprecedented credit insights in no time at all.

Furthermore, if you find errors on a credit report, don't hesitate to contact the reporting bureau. This will enable you to fix any credit report mistakes prior to applying for a mortgage.

3. Reach Out to Local Lenders

Banks and credit unions are happy to meet with you and discuss a variety of mortgage options. These lenders are available in cities and towns nationwide and can teach you everything you need to know about home financing.

Ultimately, lenders can explain the home financing process and ensure you can avoid any potential pitfalls along the way. And if you ever have mortgage concerns or questions, lenders are available to respond to them at any time.

If you need extra help prior to kicking off a home search, you may want to contact a real estate agent as well. This housing market professional understands the ins and outs of purchasing a house and can help you plan accordingly.

Oftentimes, a real estate agent will meet with you and learn about your homebuying goals. This housing market professional then can ensure you won't have to break your budget to afford a terrific residence.

If you want to buy a home but have limited finances at your disposal, a real estate agent is happy to assist you. Or, if you are searching for a mortgage but don't know where to begin, a real estate agent can put you in touch with top lenders.

Work with a real estate agent, and you can improve your chances of acquiring a first-rate house at an affordable price.

About the Author
Author

Frances Warner

Frances Warner has marketed and sold some of the most prestigious homes on Ocean Isle Beach ranging from the exclusive west end ocean front homes to the mansions on Craven Street. In 2018, Frances sold over 20 million on Ocean Isle, finishing over 8 million ahead of the Number 2 realtor. She has consistently been a top producing agent, finishing Number 1 on Ocean Isle in 2009, 2010, 2011, 2013, 2014, 2015, 2016, 2017, and 2018. Frances was awarded 'Realtor of the Year' for Coldwell Banker Sea Coast in 2013, 2015, 2016 and 2017, which included 12 offices.

She attributes her success to her 'Client FIRST Philosophy', her supportive husband and family and states that real estate is her passion. 'I love helping people reach their goals'.

Frances believes that it is not only important to do your very best, but to be the very best.