Best Time to Buy a Home

By
Real Estate Agent with Coldwell Banker Infiniti Group

Market conditions play a huge part in any decision about when to buy a home.   And if you have been thinking of buying a home, this is the time.  Prices are low and mortgage rates are low.

When do you know you're ready to buy a home?

.     You have a steady source of income.  You've been employed on a regular basis for the last 2-3 years and your current income is reliable.

.     You have a good record of paying your bills.

.     You have money saved for down payment.

.     You have ability to pay a mortgage every month, plus additional costs (taxes, insurance, etc.)

What to do first?

Here are some of the few things to do before you start looking for a house.

.     Talk to a mortgage broker to get loan pre-approved.

.     Talk to a real estate agent - a good agent can recommend reputable brokers and help you make sense of the terms of the loan.

.     Review your credit report and scores with mortgage broker to determine if any repairs are needed.

.     Select a community that will allow you to best live your daily life.

Owning a home has many benefits.  When you make a mortgage payment, you are building equity. And that's an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial.

 If you need more information, please call Oscar Bautista at 415-370-7703 or Lina at 415-420-5352.

 

Comments (2)

Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Oscar,

... steady source of income (usually a job)  That made me smile!  I stopped by to say WELCOME to Active Rain, and thanks for commenting on my blog.

Mike in Tucson

Aug 28, 2009 02:31 AM
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

Very good topic to post for consumers, Oscar. I hope you are following up with more posts like this, it would prove to be a great boon to your business.

Feb 06, 2011 01:41 PM