August 29, 2019 admin

4 Authentic Steps to Prepare for Homeownership

Take a deep breath. Now, maybe take one more. Buying a home is a big deal, and it can stir up a lot of emotions, some of which are good—some, not so much. We’ve seen it all, we’ve felt it all ourselves, and we’re here to tell you: all of your thoughts and feelings are normal, but it’s important to make sure they don’t keep you from big opportunities. Let’s talk about how to quiet any voices in your head saying you can’t do this. Because you can.

Banish Fear

Maybe you’re afraid of getting in over your head, or of getting rejected by a mortgage lender or a seller, or of how complicated everything is. This process can make you feel vulnerable—you have to strip financially naked and take a brutally honest look at your money. You have to make decisions about what you want that can affect your future.

Don’t punish yourself for being afraid: your fear has probably kept you out of some sticky situations in the past. That being said, a lot of the fear, in this case, is coming from the unknown: will I get rejected? How do I do this? Can I do this? Where do I start? You can address a lot of these fears through education, and we’re here to help you with that a little further down the page.

Say No to Shame

This is a big one. Maybe you’ve had some financial hiccups in the past. Maybe your credit isn’t as good as you want it to be. Money is so personal, and having to face your financial reality in front of people like mortgage lenders, who you’re asking to trust you with a large loan, can be really hard. But if you’re willing to accept some free therapy from a blog: let go of shame. Instead, remind yourself of how much you’ve learned from your financial journey and how that knowledge will serve you for years to come. And stay positive—there are so many ways to own a home these days, and you have options.

Get Educated

There are answers to all of the questions you have, it’s just a matter of finding the time and mindset to take the first steps. You can start right in our FAQ, which will give you the basic info.

Then, think about learning from an expert—a good bet is always to visit a HUD-approved not-for-profit housing counseling agency in your area. There, you can sign up for a free home buying education class taught by trained professionals, and they can tell you everything you need to know about purchasing a home, protecting your credit, and a lot more.

Next, get a mortgage pre-qualification: it will help you see what kind of mortgage you can get and it’s non-binding, meaning you don’t have to commit to taking out a loan. Once you’re pre-qualified, you’ll know how much house you can afford, which will help you make a financial game plan and timeline.

Believe in Yourself

Lots of people buy homes and you can do it, too. Believe in yourself, make a plan, stick to it—and keep breathing.