Holiday Mortgage

Looking to buy this holiday season?

Need some tips for financing that mortgage this holiday? Look no further! I'm here to help you take on a very important life decision with ease. Here are six easy tips on how to manage your mortgage, stress-free.

How to Take On a Mortgage

Strengthen Your Credit 

• Use on 20% of available credit when thinking of purchasing a house
• Don't get new credit before applying for mortgage-- lenders want to know you can handle your credit and not fall into debt
• Pay off any balance-- a clean slate is key!

Save

• Save! Save! Save! Aim to save 6 months of mortgage after down payment is made
• The more you can spend monthly on the house, including down payments, mortgages, and inspections, the less you will have to spend overall

Pre-Approval by a Mortgage Lender

• A Pre-Approval letter shows you what range the bank is willing to lend you
• It also signals to the home owners that you are serious about potentially purchasing the house and have been authorized to do so

15 vs 30 year mortgage

• A 30 year mortgage is a lower monthly rate but costs more overtime
• A 15 year mortgage is a higher monthly rate but costs less overtime
• Think about what you can afford monthly and compare it to the possible savings over the years

Hire the Right Realtor

• Your realtor will be with you every step of the way, so make sure all of you are on the same page
•  Look in the right neighborhood for you-- be realistic, and think towards the future

Remember-- I'm always available to help you navigate these big life changes! Contact me to set up an appointment or ask questions. Happy holidays and happy home-buying! --Missy