How do I know if I’m ready to buy a home?

You can answer this by asking yourself some questions:

• Do I have a stable source of income? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable?
• Do I have a good record of paying my bills?
• Do I have minimal outstanding long-term debts, like car payments?
• Do I have money saved for a downpayment?
• Do I have the ability to pay a mortgage every month plus my outstanding debts?

If you can answer “yes” to these questions, you are probably ready to buy your own home.

Posted in: Homeownership