Owning Your Own Home....do you qualify?

"The American Dream" of owning your own home can be a reality for
many Americans with some wise planning, having consistant income,
frugal use of money, establishing credit, paying bills on time, and saving.

Wise planning...a mortgage professional can guide you in this to
determine when you might be ready to buy. If you want to buy a
home, it needs to become a priority ...over that new car, dream vaca-
tion, luxuries.

Frugal use of money...With your goal of owning a home firmly
before you, establish a budget of what you can spend each month
and still save toward a down-payment and closing costs. Set up a
separate account for these funds. If you are getting married, you
could let it be known that "cash" toward a down-payment would
be greatly appreciated.

Establishing credit....you need to have at least three tradelines
on your credit report. Installment loans (car, student loans, etc.) and
revolving credit. You need a credit card with a history of timely payments.

Credit Tips:
Do not totally pay off your credit cards, keep a small balance
Do not close revolving accounts....that erases history
Keep your balances to 1/3 or below of your high limit
Pay on time!!!

Employment: You need to have a job or if you are self-employed,
have had the business for two years. If you currently are employed,
but have only worked a short time because you were in college,
your college transcript will work for documentation.

As a mortgage professional, I will be happy to help you plan for owning a home!