A few things for home buyers to ponder ....
Janine, a great start back into the world of Home Ownership. A few more could be:
1. Narrowing down the area to a few mile radius.
2. Schools and how they are important, and their rating.
3. Commute time and/or access to your present or future job.
Before starting the house hunt, there are a few things buyers need to consider.
- Credit score: Lenders are generally looking for buyers to have credit scores of at least 620 nowadays. Although the Federal Housing Administration will extend loans to borrowers with credit scores as low as 580, most banks are imposing higher scores.
- Reserves: Even when renting, financial advisers recommend saving four to five months’ worth of expenses in case of job loss or any other unforeseen event. Homeowners should add an additional two months’ worth to their savings.
- Settling down: Buyers should think about if they see themselves living in the same place for five to seven years. Homeownership is not just a financial decision, it’s also a lifestyle choice.
It would be our pleasure to assist you in your next real estate transactionRichard Kirchnavy
Broker License # 01016593
Janine Kirchnavy
Broker Associate License # 01048899
Office (909) 945-3662Atlas Real Estate (909) 945-366210700 Jersey Blvd #400, Rancho Cucamonga CA 91730
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