How to be a Homebuyer

Is homeownership in your future? 

Trying to figure out the “right” time to buy? 

CFR-HomeownershipHere are some tips to help you get started.

Determine your goals and values. Are you ready for the responsibility of owning a home? Does your lifestyle support this dream, i.e., do you like mowing lawns and the other daily chores that accompany homeownership?

Get the information you need. Understanding the home buying process can make purchasing a home less stressful. By completing our Homebuyer Express program, you will learn the specific steps in the home purchase process, the different programs available to assist you in this goal and tools for assessing your current financial position.

Make a plan. Understanding your financial situation is critical in the home purchase process. Review your monthly spending and decide how much money you can carve out to advance this goal. Set a plan and make homeownership a financial priority.

Reduce your debt. Lenders compare your outstanding debt to your income to determine the amount of money you can borrow. Large debt balances can reduce your buying power and impact the interest rate you receive.

Get copies of your credit report. Under the Fair and Accurate Credit Transaction Act, you are entitled to one free credit report each year from each of the three major credit reporting agencies. Get your report at or by calling 877-322-8228. You can also purchase additional reports if needed through the individual agencies.

Review your credit report for errors. Make sure information is complete, up-to-date and accurate before you contact a lender. If there are errors, correct them. This information is used to determine if you will qualify for a mortgage loan. As a consumer, you can dispute any inaccurate items on your credit report directly with the credit bureau. Don’t pay anyone to dispute information for you – they can’t do anything more for you than you can do for yourself (FOR FREE!).

Make good decisions. Negative information on a credit report won’t be erased if it is accurate. You can, however, make good decisions now that will make home purchase easier in the future.

If you need help or have questions along the way, we’re here. Schedule a free First Time Homebuyer Session or attend a Homebuyer Express Seminar. 888-258-2227 or

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