7 Ways to STOP Paying Rent and OWN Your Own Home
Purchasing a home is one of the most important financial decisions you’ll ever make. For a first-time homebuyer, the decision to purchase can be daunting. It represents a major step since you and your family will potentially be assuming your largest responsibility. As with any major decision, it’s important that everyone—especially first-time homebuyers—take full advantage of the information that’s available to more clearly understand the home buying process.
Don't Feel Trapped Anymore!
It doesn't matter how long you've been renting, or how insurmountable your financial situation may
seem. The truth is, there are some little known facts that can help you get over the hump, and
transfer your status from renter to homeowner. With this information, you will begin to see how you
· * Save for a down payment
· * Stop lining your landlord's pockets
· * Stop wasting thousands of dollars on rent
Do some research before beginning the search for your dream home.
Here are 7 Steps to get you started:
STEP 1: Before you start your house search, think carefully about what it will be like to be a homeowner. For most people, homeownership can be one of the most significant financial turning points in their lives. The advantages (tax benefits, pride of ownership, financial investment) far outweigh any drawbacks.
STEP 2: Your credit history is one of the first things a lender will look at in making a decision on your loan. Request a copy of your credit report from Equifax and/or TransUnion, and review it carefully to be sure all the information is correct. If you find discrepancies, work with the credit agencies to resolve them.
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