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Signs That You’re Ready To Buy Houses For Sale In North Augusta, Sc

By Expert Author: Iris Barber

Renting is a convenient housing option for young people who are still learning to stand on their own two feet. As they mature and make plans for the future though—like getting married and starting a family soon after—the idea of owning a home steadily gets more attractive. While there are many houses for sale in North Augusta, SC, a home should never be an impulse buy given the huge responsibility of homeownership. If you can answer “yes” to the items below, however, then you’re probably ready to take the plunge:

Your Credit Score is Healthy
Credit scores are numerical indications of your financial health, as such, it’s one of the first things that mortgage lenders look at when reviewing loan applications. If you’ve been diligent with finances, you should have no trouble accruing the minimum 620 points that most lenders require. Make sure to request a credit report from all three agencies (Equifax, Experian, and Trans Union) before talking to a lender.

You Have Money for a 20% Down Payment
To get the best interest rates possible, you should have enough money for a 20% down payment on a home. While you can score a zero- or low-down-payment loan, you’ll end up paying more because of mortgage insurance and piggyback loans with high interest rates—safety measures that protect mortgage lenders.

You Have an Emergency Fund
You might have enough money for a 20% down payment, but if it also comprises the entirety of your life savings, you still don’t have enough money to buy a home. Remember, you no longer have a landlord to run to when things break down—if the furnace or plumbing goes on the fritz, you have to foot the repair bills yourself. Owning a home is expensive and you need to have a financial cushion to bear the maintenance costs.

You Plan to Stay Put
It’s far easier to move apartments than it is to move house, so before buying one, ask yourself if you plan to stay put for at least another five years. Can you imagine yourself raising a family in the neighborhood? Are you settled in your job and have no plans of finding another one out of state?

So are you indeed ready to be a homeowner? If you’re confident that you are, then it’s time to contact expert realtors in Augusta, GA. Head over to http://www.wikihow.com/Find-a-Good-Real-Estate-Agent for tips on finding the best real estate agent.

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