15 Nov Are You Ready to Purchase A Home?
Buying a home is a large and exciting financial decision. Homeownership comes with many benefits, but it is an endeavor for which you will want to be fully prepared. If you are considering a home purchase in Bozeman or any of the surrounding areas, ask yourself these questions:
- How long do you plan to live there? If you are thinking about buying a home, you will want to plan on staying there for at least 5-7 years. While owning a home can be financially beneficial, costs such as down payments, mortgage-related fees and home maintenance expenses can making owning a home for a short time more costly than renting.
- Do you have enough cash for a down payment? Before buying a home, you will want to ensure you have saved enough money for a down payment, emergency fund, moving expenses and any other mortgage-related costs. One of our fantastic mortgage planners at Fairway Bozeman can walk you through this process and help you understand how much you need to save.
- Do you have a reliable income? Purchasing a home with a mortgage is a long-term financial responsibility. It is important to be confident in your ability to pay your monthly mortgage payment as well as any home maintenance costs that may arise.
- How is your credit? To be approved for a mortgage loan, you will need to have good credit. While there are free services available to check your credit score, your Fairway Bozeman mortgage planner can help you understand what kind of credit score you will need to apply for a mortgage.
When you have decided you are ready to purchase a home, call Fairway Bozeman to set up an appointment. At Fairway Bozeman, we want to show you that buying a house can be a fantastic experience. Interested in moving to Bozeman or making a home purchase? We are here to help you! Call us to set up a time when we can review your finances and goals to determine the best home loan program for your needs.
Schedule an appointment today!