Was homeownership or moving part of the game plan this year, but now you’re looking at the calendar wondering how we’re already halfway through? Great news!

Not only is it not too late to get into a new home in 2019, you might be in an even better position to start that home search now than if you began the process earlier this year. Additionally, if you were unsuccessful in getting your offers accepted previously and put buying on hold, it’s a great time to kick things off again.

One of the biggest reasons that now may be a great time to buy is that, although home prices are still on the rise, the rate at which prices are growing has slowed for the 12th month in a row, according to Standard and Poor’s Core-Logic Case-Shiller National Index.

Another factor that may work in your favor is that homes aren’t selling as fast as they previously were. This is especially true in major markets. This is leading to increased inventory and more choices for buyers.

Although it might be the right time for you to buy, if you’re a first-time buyer and are ready to start the process, you may not even know where to start. We can help!

Your first step should be to meet with a lender who can help you assess your financial situation and determine how much house you can afford. Next, your lender will guide you on important steps to take to increase the likelihood of securing a home loan.

Here are just a few quick tips:

  • Don’t make any changes to your credit by opening or closing any credit cards or loan accounts, including entering into contracts such as gym or cell phone contracts.
  • Don’t make any big purchases like jewelry, home renovations, boats, etc.
  • Don’t make any deposits to your bank account outside of your normal deposits such as a paycheck, even in the form of gifts from family members.
  • Don’t enter into payoff agreements with debt collectors, even if it might improve your credit score.
  • Don’t decrease your workload, and therefore the amount you get paid.
  • Do make the same monthly payments you’ve been making, such as mortgage payments.
  • Do keep living at your current residence and keep working for the same employer.
  • Do consult a lender you can trust if you’re in doubt.

There is always a lot to consider when it comes to purchasing a home and it’s beneficial to consult a trusted lender that can offer advice about your specific financial situation and goals. The Premier Mortgage Resources team is here to help you through every step of the way. Don’t hesitate to contact us!

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