Purchasing your first house is an exciting prospect, and it requires a lot of planning and preparation before committing. There are key things you need to have in order that the team at RE/MAX Real Team Realty explain below. They’ve helped people throughout Ashland, KY and Boyd County buy a house, and by ensuring you have the following organized, you can go into the process confident that you’ll come out with the best financial results.

3 Signs You’re Ready to Purchase a Home

1. You Have a High Credit Score

Unless you have the funds to pay in full, you’ll never get a reasonable mortgage without a good credit score. If you’ve spent time upping your score to buy a house, you’ll see an immediate difference in the types of mortgage deals you receive from lenders. If you need assistance raising your score, speak with a financial advisor and begin paying off outstanding debts.

2. You Have a Steady Job

Lenders are hesitant to give mortgages to people with unsteady jobs. They need stability, and so do you, which is why you want to be certain you have a solid job and source of income. Falling behind on mortgage payments can lead to disaster—if you’ve budgeted correctly and you know your income can comfortably support the cost, you can be confident that employment won’t become a problem in the equation. Job stability also means you don’t anticipate moving and are ready to settle down.

3. You Have Higher Income

Budgeting is imperative before you buy a house. If you’ve recently received a significant pay raise and moved up in the income bracket, you may find you’re now able to pay a proper down payment and handle mortgage payments that you previously couldn’t handle. As a rule of thumb, no more than 30% of your monthly income should go to your mortgage payment.

Whether you’re looking to buy a house or sell, turn to the team at RE/MAX Real Team Realty. Their experienced real estate agents will work with you every step of the way to ensure the best results and can provide advice on securing a mortgage you can afford. Visit them online to explore their real estate listings and call (606) 325-0407 today if you’re ready to schedule a consultation with an agent.