Congratulations on taking your first step toward home ownership. Buying your own home is one of the most important decisions, and perhaps the biggest investment, you’ll make in your lifetime. Buying a home can considerably alter your lifestyle and financial circumstances, and you want to be as prepared as possible. This includes understanding the lending process, managing your finances, and maintaining the investment you call home.

But you should also know that buying a home is a big responsibility.

Take our quick quiz below to find out if you’re ready for home ownership.

1. Do you have a stable source of income?

a. No, but I’m currently looking.
b. Yes, I just got back to work.
c. Yes, I’ve been employed on a regular basis for the last 2-3 years.

2. Do you have a good record of paying your bills on time?

a. I’ve been through some rough times and am trying to get back on track,
b. I’ve missed a few due dates here and there, but nothing excessive.
c. I consistently pay all of my bills on time.

3. How important is saving money to you?

a. It’s a good idea, but I can’t right now.
b. I’ve just started saving money, but I’m not in a regular habit.
c. I’ve been saving consistently and recognize it is important.

4. How much debt do you have?

a. A large amount, including a car payment, student loans and I’m paying down my credit cards.
b. A manageable amount, and I’m comfortable with all of the payments.
c. None.

5. Do you have money saved for a down payment?

a. No.
b. A little, maybe 3.5-5% of the home values I am looking to buy.
c. A good amount, almost 10-20% of the home values I am looking to buy.

6. Are you ready for the potential change in lifestyle that comes with home ownership?

a. What change?
b. Yes, I know I may need to cut back on other things to take care of my home.
c. Yes, I plan to save for maintenance and repairs and adjust my spending to be a homeowner.

If you answered with:

Mostly As

Now’s a great time to start planning. Steady employment, savings and paying bills on time are all important steps in getting ready to buy a home. We recommend you start with a basic budget to keep track of your expenses and prepare for the changes that come with the responsibility of owning a home. You can learn more about repairing your credit and how to manage your debt by contacting a free HUD approved home counseling agency for advice on getting things in order before you apply.

Mostly Bs

You are on your way to buying. You recognize the importance of managing your income and your expenses. Paying your bills on time is the #1 way to improve your credit history and it will save you a lot of money in interest expense and late fees! We recommend that you attend one of our free home buyer seminars. There’s no obligation, just lots of information to help you get ready for the process and reality of owning your own home. Sign up today for a seminar in your area.

Mostly Cs

It sounds like you are ready to take the first step to home ownership. In our opinion, that’s meeting with a licensed McCue Mortgage loan originator who can tell you what you can afford before you go looking for a home. If you’ve made a few late payments, we understand that there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties. If you had a problem that has been corrected and your payments have been on time for a year or more, your credit will probably be considered satisfactory. If you don’t have as much saved for a down payment as you would like, there still may be options for you with special mortgage programs specific for first time buyers. Attend one of our free home buyer education seminars to learn about the process or sign up for our email list and unlock our free Homebuyer Handbook to learn more about the Do’s and Don’ts of the home buying experience.

All Cs

You’re ready to get prequalified today to find out what you can afford.

Check out our steps to home ownership





From Conventional, FHA , VA, Rural Development and state agency CHFA loans to loans for those with damaged credit, McCue Mortgage has a host of products for the first time home buyer.

After understanding your goals, aspirations and financial situation, a McCue Mortgage Loan Originator can offer you the loan that best fits your needs.