How To Buy a Home at a Young Age
Posted by Christie Gray on
Finances: Keeping your financial position stable will increase the odds that you will quality for a loan and that the loan will get funded (no new credit cards, don't quit your job, no huge purchases, etc). Remember during tax season that buying a home qualifies you for numerous tax benefits.
Down Payment: Figuring out your down payment is critical. In general, down payments can be comprised of money you have saved OR money that has been gifted to you. Different loans have different down payment requirements, but all loans except for VA loans require some down payment.
Leave Lease: Will you be breaking a lease to move out into your new home? If so, what's the penalty for this? If your lease is up soon, consider waiting until it…
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