Ten Steps to Prepare for Home Ownership

  1. Decide how much money you can afford
  2. Develop a wish list
  3. Select three or four neighborhoods you would like to live in
  4. Determine if you have enough saved to cover your downpayment and closing costs
  5. Get your credit in order
  6. Determine how large a mortgage you can qualify for
  7. Organize all the documentation a lender will need to pre approve you for a loan
  8. Do research to determine if you qualify for any special mortgage or down payment assistance programs
  9. Calculate the costs of home ownership (property taxes, insurance, maintenance, association fees)
  10. Find an experienced REALTOR who can help you through the process