If you have good credit, stable income, and savings for a down payment, you’re in a good position to buy a home you can afford. Here are 10 things you should know:

1. Credit is a factor for paying less interest. Lenders evaluate your debt-to-income ratios, and will counsel you to help find a loan you can qualify for.
2. You might need a healthy down payment, there are loans with no down payment if you qualify.
3. Your mortgage payment includes multiple expenses. Interest on your loan, and escrow to cover your insurance and taxes.
4. Never house hunt without a mortgage pre-approval. You may find that the home you love is out of your price range.  Shop in your price range.
5. Real estate agents work to your advantage.  We are familiar with the market, and will help you through the process of buying your home.
6. Negotiations begin with your purchase offer, then acceptance, counter offer or rejection of the offer.
7. Once your offer is accepted there is still work to do before the closing. We highly recommend home inspections to make sure the home is safe and there are no defects.
8. The home must apprise at or above the asking purchase price to obtain lending.
9.  If all contingencies have been removed your closing will be scheduled. You will meet with your Real Estate Agent, Lender and Title Company to sign your mortgage, transfer the title to you and get the keys to your new home.
10. Reasons for postponing homeownership are, credit, unstable income, and no down payment