10 Steps to Prepare for Home Ownership

1.	Decide how much home you can afford.  Generally, you can afford a home equal in value to between two and three times your gross income.
2.	Develop a wish list of what you'd like your home to have.  Then prioritize the features on your list.
3.	Select three or four neighborhooods you'd like to live in.  Consider items such as schools, recreational facilities, area expansion plans, and safety.
4.	Determine if you have enough saved to cover your down payment and closing cost.  Closing cost, including taxes, attorney's fee, and transfer fees average between 2 percent and 7 percent of the home price.
5.	Get your credit in order.  Obtain a copy of your credit report.
6.	Determine how large a mortgage you can qualify for.  Also explore different loan options and decide what's best for you.
7.	Organize all the documentation a lender will need to preapprove you for a loan.
8.	Do research to determine if you qualify for any special mortgage or down payment assistance programs.
9.	Calculate the cost of home ownership, including property taxes, insurance, maintenance, and association fees, if applicable.
10.	Find an experienced REALTOR who can help you through the process.

Pick up the phone and call me

Rita F. Robbins, Broker/Owner

Tremain REALTY

Phone/Fax:  317-535-7828  Cell:  317-919-6097