If you’ve been listening to the news about the housing market nationally you’ve probably already noticed that housing is on the upswing all across the nation. Interest rates continue to hold near historic lows. But the truth is as the market improves interest rates will begin to climb. Now is the time to make your move.
Ask yourself these five questions to help with your question “Is it the time for me to buy?”
What are you currently paying for housing? Take a look at how your rent compares to the monthly payments you’d incur on a home of your own. Remember you get a tax break for being a home owner because you can deduct the interest you are paying toward your home loan on your taxes. For an estimated payment amount please visit one of our central Ohio communities and speak with one of our very knowledgeable sales consultants.
How stable are you? If you’ve been in your job for at least 2-3 years and things look good and you aren’t worried about the stability of your company than that speaks volumes about your ability, and readiness to purchase a home.
How much do you have put away for a down payment? With different types of home loans that FBC mortgage has available, down payments vary. Speaking to one of our sales consultants is a step in the right direction to gaining knowledge of the requirements of down payment amounts.
Do you have strong enough credit? Your credit is going to determine how great your interest rate is, or if you can get a loan at all. It’s time to take stock of your credit. Sit down with a loan officer. Have them take a look at your debt to income ratio and pick apart your finances to see what you can and can’t afford. If your scores a a little low, Maronda Homes offers free credit repair with the Gold Key Program if you qualify.
Are you a do-it-yourself-er? Remember there is a lot of care and maintenance that goes into owning your own home versus renting. If you like to get your hands dirty, do a little gardening and home improvement you will save a lot on paying others to do the work.
If you’ve come out feeling excited and positive after you have asked yourself these series of questions, and if you know you have strong credit, a secure job, you feel confident on taking care of business around the house and you have some money in the bank, then it’s an excellent time for you to head out and start your home search. You can begin that search with Maronda Homes of Central Ohio.