10 ways to get ready for Home Ownership in Denver

10 ways to get ready for Home Ownership in Denver

Posted by Brian Burke on Monday, November 30th, -0001 at 12:00am.

 1. Decide what you can afford. Generally, you can afford a Denver area home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you™d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving.Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don™t forget to factor in closing costs. Closing costs ” including taxes, attorney™s fee, and transfer fees ” average between 2 and 7 percent of the home price.

5. Get your credit in order.Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.


6. Determine your mortgage qualifications.How large of mortgage do you qualify for? Also, explore different loan options ” such as 30-year or 15-year fixed mortgages or ARMs ” and decide what™s best for you.

7. Get preapproved.
Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements. You can Contact us to get Pre-approved in seconds.
 

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you™ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact us Right now to get you Started! 303-955-4220


 

Information is deemed reliable but not guaranteed.

 


 

Disclaimer: Kenna Real Estate. Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. Blog posts on the Kenna Real Estate. Blog represent the opinions and ideas of the author(s). Kenna Real Estate. Blog does not express the views of Kenna Real Estate. or those of the broker.

 


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Denver CO Luxury Foreclosures - Opportunities by Brian Burke is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License."Denver Luxury Foreclosures - Opportunities" By Brian Burke.

 

 

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