As the real estate market continues to shift, it will allow more renters, who are now paying a premium for rent, to seriously consider home ownership.
The first step is to create a plan.
Here are some steps to utilize in your plan.
1. Start with a savings plan, even having a small amount taken out automatically from your paycheck is a great beginning.
2. Check you credit score, you are entitled to a free report every year. Check with either Equifax, Experian, or Trans Union.
3. You can also check with State of NY Mortgage Agency. They offer affordable loans as well as down payment assistance.
4. Explore other Mortgage options through a local mortgage broker.
5. If need be, ask family for assistance with a down payment.
6. Engage a local and experienced buyer’s agent to represent you.
Best of luck in your endeavor to own your first home!
