10 Ways to Prepare for Home Ownership

The time to buy is right NOW….. interest rates are at their all time low and the values are amazing. Here’s what you need to know:

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get pre-approved. Organize all the documentation a lender will need to pre-approve you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.
8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.
9. Calculate the costs of home ownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

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About Ron Jesser Realtor

I'm All About Real Estate And I Know The Desert! After 14 years of selling, I better!   When selecting a Realtor or real estate agent, a thorough knowledge of the community, strong negotiation skills, and a commitment to excellent service are all skills you’ll want on your side of the table. Experience counts!

 With great experience as a Palm Springs Realtor and extensive knowledge as a Realtor servicing Rancho Mirage, Cathedral City, Palm Desert, La Quinta, and Indio, I help both buyers and sellers meet their real estate objectives. I will work tirelessly on your behalf by being available to you when you need me to answer questions, provide information or ensure our deal is progressing smoothly; by having a solid team ready to take care of any need or request that comes our way and by providing any resource necessary to make your transaction trouble free. Sellers—I am committed to selling your home or property in a timely fashion and at the highest possible price. If you are interested in receiving a free home valuation, I encourage you to fill out my free Home Valuation Form or check out my Dream Home Finder at www.RonJesser.com Buyers—I will work with you to find your ideal home at your ideal price. Let’s narrow down what you are looking for, so we can begin the home showing process and get you a closer look at what these communities have to offer. No matter what it takes, your next home buying or home selling experience will be an enjoyable and successful one because I will be doing the work for you. And by working tirelessly on your behalf, as a team we will make your next home buying or home selling experience an enjoyable and successful one. 
 Remember—I'm not here just to find you a home. I'm here to help you find a life you will love! Thank you for considering me as your Realtor. Please call or email me if you have any real estate questions about Greater Palm Springs. DRE# 01280106
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