When the time comes and you are thinking its time to stop renting and buy a home, you may be tempted to go online and look at all the homes that are listed for sale without knowing what your budget is. Even worse, you contact a real estate agent and request a showing of some of these homes. Although is can be fun, in the end it can be detrimental as you may be looking at homes that are not within your comfortable budget.
The best place to start is contacting a lender so you can discuss the loan options available and what best fits your situation. There are many programs such as FHA where you come in with 3 1/2% down and others where there is downpayment assistance so you don't have to come in with any downpayment.
Once you have a number in mind, then the search will me much nicer as you will be actually looking for homes that you can write on offer on should it be one that you love. Also, be mindful of the payment the lender shows you and how much you are approved to buy for. You may be approved for an amount that carries a large monthly payment so you will need to be realistic and choose a price range that puts your monthly payment in a comfortable place. No one wants to move into a new home and not have any money to decorate, or even eat! Macaroni and cheese can get old quick!!
I have a great portfolio of lenders I can direct you to that can discuss all the newest loans and assist you in finding the right one with the right monthly payment. Reach out anytime and I will set you up so you can get the process started.
And of course, go ahead and look at some of the great homes online to keep you excited about the process and get out there and see them in person once you have the financing all set up.