In this blog, we cover 4 useful tips that will help first-time homebuyers afford their down payment.
Drew Mortgage - Boston Mortgage Broker Phone: 508-753-1656 | Toll Free: 877-949-3739 NMLS ID 2856
Cut Down On Your Credit Cards ● ● ● ● ●
Reduce credit card spending Pay off debt Avoid spending on luxury items Use your credit cards only as a last resort Try to repay them as quickly as possible
First Time Home Buyer Loans | USDA Home Loans | 203K Rehab Loans Phone: 508-753-1656 | Toll Free: 877-949-3739 NMLS ID 2856
Sell Off Unnecessary Assets â—? â—?
You might have to give up certain items and services that are taking a toll on your paycheck. For example, if you have an additional car that you rarely use, you could consider selling it to gain extra capital.
First Time Home Buyer Loans | USDA Home Loans | 203K Rehab Loans Phone: 508-753-1656 | Toll Free: 877-949-3739 NMLS ID 2856
Curb Your Overspending Habits ●
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Keep your dream home in mind every time you have an urge to buy something that isn’t an immediate priority. Discuss how to form a budget with your partner in order to optimize your paycheck.
First Time Home Buyer Loans | USDA Home Loans | 203K Rehab Loans Phone: 508-753-1656 | Toll Free: 877-949-3739 NMLS ID 2856
Set Up A Down Payment Goal ● ● ● ● ●
Analyze your fixed and unavoidable costs Assess your financial position And choose a down payment that can work for you. You should still stick to it even if you’re approved for a full payment loan. The more you save for your down payment, the higher equity you’ll have in the house.
First Time Home Buyer Loans | USDA Home Loans | 203K Rehab Loans Phone: 508-753-1656 | Toll Free: 877-949-3739 NMLS ID 2856
Drew Mortgage is a well-established name in the field of mortgage lending that can give first-time homebuyers expert advice.
Drew Mortgage - Boston Mortgage Broker Phone: 508-753-1656 | Toll Free: 877-949-3739 NMLS ID 2856