Renters Looking for Their First Home
- Check your credit – your credit score is among the most important factors when it comes to qualifying for a loan
- Evaluate assets and liabilities - you should have a good idea of how much money you owe and how money is coming in.
- Organize documents - When applying for mortgages, you'll have to provide income and tax documents.
- Qualify yourself - By calculating your debt-to-income ratio and factoring in a down payment, you'll have a good idea of what you can afford, both upfront and monthly.
- Figure out your cash down payment – Even if you don't have a lot of money saved for a down payment, there are options for you if you're looking for low-down-payment and/or zero-down-payment home mortgages.