A few things for home buyers to ponder ....

By
Services for Real Estate Pros with Berkshire Hathaway HomeServices California Properties BRE#01016593/01048899

 

 

Before starting the house hunt, there are a few things buyers need to consider.

  • Credit score: Lenders are generally looking for buyers to have credit scores of at least 620 nowadays.  Although the Federal Housing Administration will extend loans to borrowers with credit scores as low as 580, most banks are imposing higher scores.
  • Reserves: Even when renting, financial advisers recommend saving four to five months’ worth of expenses in case of job loss or any other unforeseen event.  Homeowners should add an additional two months’ worth to their savings.
  • Settling down: Buyers should think about if they see themselves living in the same place for five to seven years.  Homeownership is not just a financial decision, it’s also a lifestyle choice.
Posted by

 

 Richard and Janine Kirchnavy - Prudential California Realty (909) 945-3662

It would be our pleasure to assist you in your next real estate transaction.

Janine Kirchnavy - Broker Associate License #1048899

Richard Kirchnavy - Broker Associate License # 01016593

(909) 945-3662

Newsletter button - Richard and Janine Kirchnavy, Prudenital California Realty 909-945-3662 
 
 
 
Berkshire Hathaway HomeServices California Properties
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Winston Heverly 11/10/2011 12:44 AM
Topic:
ActiveRain Community
Location:
California
Tags:
atlas real estate
janine kirchnavy
california real estate
loan qualification
reserves
credit scores
home buyer

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Rainer
40,463
Scott Freedle
Metro Brokers Freedle and Associates - Centennial, CO

Nice tips to those buyers thinking of purchasing a home soon.

Nov 10, 2011 12:15 AM #1
Rainmaker
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Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It is important to get the information before making a decision.  This should be helpful for buyers.

Nov 10, 2011 01:47 AM #2
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Rainmaker
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Richard and Janine Kirchnavy

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