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Are You Ready For Your First Home?

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If you have found yourself wanting to purchase your first home then you want to make sure you are ready for it. Buying that first home is an exciting moment in one's life, but it is also one that should be taken serious. If you are contemplating home ownership then you'll want to make sure you ask yourself the following questions when looking at real estate for sale:

Have you had steady employment the past two years?

Most of the home loans will require you to have been steadily employed in the same field for the last two straight years. However, there are some exceptions to the rule. One exception is you may be able to get approved for a home loan if you were a student in a related field for some of that past two years. However, if you went to school for something not related then this won't meet the necessary requirement.

Do you have a good credit score?

You want to make sure you have a credit score that's worthy of being approved for a home loan. The scores required will depend on the type of loan you are applying for, but you will need to at least have fair credit in order to be approved for any of them. If you don't have a credit score that's good enough then you want to start working on it right away by making sure you pay all your bills on time and have a good mixture of credit accounts. You also want to keep the balances on all of your lines of credit down as low as possible.

Are you sure you can afford a mortgage right now?

Before you start thinking about home ownership for the first time you will want to make sure you can afford to pay the mortgage every month. If you currently rent your home then you may find that you can usually save money by buying a home since mortgages are generally less than rents for the same homes.

Do you know where you want to live?

Before you buy a home you want to make sure that you know where you want to live permanently. Otherwise, you may end up buying a home only to find that you aren't happy with the location you ended up in.


If you answer the above questions in a way that indicates you are ready to buy a home then you are well on your way to enjoying a fantastic chapter in your life. There are so many benefits to home ownership.