Every once in a while, the stars align and things can fall perfectly into place. That’s the case right now. With tax returns and stimulus checks coming in, just in time for the spring home buying season! With a little planning, you can use this income to put together a down payment for your first or even next home.
So, how much will you need? The answer depends on the price of your home and the type of loan you choose. Your actual figure may be higher or lower, so it’s a good idea to meet with a loan officer before you’re ready to buy. They can help you determine what price range fits your budget, what kind of loan makes sense for you, and approximately how much you’ll need for your down payment.
The final number you come up with may sound big, but there’s the good news. With extra money coming in from the government right now, you can reach your goal sooner than you thought with a tax return and the stimulus.
There are several things you can do to get ready to buy your first home, from getting pre-approved to improving your credit score to talking with a loan officer to understand your options. The Suzanna Wolfe Team is here to help you find your dream home when you’re ready. It may be sooner than you thought possible!