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| Name | 5 Signs You're Ready to Stop Renting and Start Owning |
| Video Uploader | Video From Mohamed T Gulamali |
| Upload Date | This Video Uploaded At 25-05-2023 14:54:31 |
| Video Discription | Are you tired of renting? Do you instead want to start putting your money towards your family's equity? If so, then you may be ready to buy a house. In this article, we will share 5 signs that indicate you're ready to make the move to homeownership. 1. Rising rent One of the most obvious signs that it's time to buy a house is if rent is rising in your area. If you're paying more and more each year for rent, it may be time to consider buying a home instead. As a homeowner, you will be building equity in your home, which means that your investment will grow over time. 2. Good credit score A solid credit score will help you qualify for a better mortgage with a lower interest rate. This can save you thousands of dollars over the life of your loan. If you don't have good credit, there are a number of things you can do to improve it, such as paying your bills on time, keeping your credit utilization low, and disputing any inaccurate information on your credit report. 3. Manageable debt-to-income ratio Your debt-to-income ratio is the percentage of your monthly income that goes towards debt payments. Lenders will look at this ratio when you apply for a mortgage, and they will want to see that you can afford to make your monthly payments. If your debts are currently high, you may want to consider consolidating your debt into a single loan with a lower interest rate, or making extra payments on your debts to reduce the balance. 4. Affording a down payment A down payment is typically required when you buy a home. The amount of the down payment will affect your monthly mortgage payments, so it's important to save as much as you can. There are programs and grants available to help you afford a down payment, so be sure to do your research. 5. Major life events Major life events, such as marriage, starting a family, or getting a new job, can be a sign that it's time to buy a home. These events can lead to a change in your financial situation and may make it more feasible for you to buy a home. If you're considering buying a home, be sure to talk to a mortgage lender to get pre-approved for a loan. This will give you an idea of how much you can afford to spend, and it will make the home buying process go more smoothly. Here are some additional tips for first-time homebuyers: Get pre-approved for a mortgage before you start looking at homes. This will give you an idea of how much you can afford to spend, and it will make the home buying process go more smoothly. Work with a real estate agent who is experienced in helping first-time homebuyers. They can help you find the right home for your needs and budget. Be prepared to compromise. You may not be able to find the perfect home, but you can find a home that meets most of your needs. Don't be afraid to ask for help. There are many resources available to help first-time homebuyers, such as government programs and nonprofit organizations. Buying a home is a big decision, but it can be a rewarding one. By following these tips, you can increase your chances of making a wise investment. written by Mohamed T Gulamali "Mortgage Mo" #rentvsbuy #homeownership #realestatetips #financialfreedom #lifegoals #nycrents #nycrealestate #realestatetrends #nyrealestate #realestatetips #realestateinvesting #realestatemarket #realestateadvice #nycliving #mortgagenews #queensny #nassau #nyc #firsttimehomebuyer #longislandrealestate #queensrealestate #firsttimehomebuyer #homebuyer #mortgageadvice #mortgageexpert #mortgagetips #buyingahome #househunting #mortgagetips #MtgMo Legacy Financial Mohamed T Gulamali Vice President of Sales I MLO NMLS #1128605 M: 646-571-5352 O: 516-764-8800 F: 646-860-0311 W: www.mtgmo.info E: Mohamed@LoansByLegacy.com A: 2873 Long Beach Road Oceanside NY 11572 Registered Mortgage Broker NYS Banking Dept. NMLS #64777 Loans Arranged Through Third Party Providers, Not A Mortgage Lender Or Correspondent Lender Contact info & Links: https://linktr.ee/mortgagemo Instagram: https://www.instagram.com/mtg.mo/ TikTok: https://www.tiktok.com/@mohamedtgulamali YouTube: https://www.youtube.com/channel/UCQuu-o-QkAc48J7f6o8tyRw Facebook: https://www.facebook.com/Mohamed.T.Gulamali Linkedin: https://www.linkedin.com/in/mohamedtgulamali/ Twitter: https://twitter.com/1MTG_MO ... #nycrealestate #realestatetrend #realestatetips #realestateinvesting #realestatemarket #realestateadvice #mortgagenews #queensny #nassau #firsttimehomebuyer #longislandrealestate #longislandrealtor #nycrealtor #queensrealestate #firsttimehomebuyer #homebuyer #homebuying #mortgageadvice #mortgageexpert #mortgagetips #newagent #realestateagent #buyingahome #realestateexperts #househunting #MtgMo |
| Category | Education |
| Tags | mortgage | real estate | ny | nyc | queens | brooklyn | long island | nassau | suffolkd | home | buying | house | down payment | grant | down payment grant | dpa |
