I met these clients many years ago and have been close ever since. Most of us long to own a home. We see this idealized place as our shelter in bad times. We love the thought of being able to decorate from top to bottom our unique specifications. Unfortunately, for many of us, buying your first home is a difficult prospect because of one major drawback: a poor credit history. Bad credit almost always creates complications when trying to purchase something as big as a home.

This client worked with a contractor and eventually became self-employed starting his own business. Both him and his wife have been working hard building a business for their family. They have been saving and making sacrifices to finally stop renting and owning a home. This home was a fixer-upper but being that the client was a contractor, for them, it was a lot easier as they would fix the house themselves.

What it takes:

Find a realtor who knows more about buying your first home than the average realtor. Find someone who can help you a year before you start looking. Many people do not realize aside saving money for a down payment or finding first time home buyer's programs, the first step always should start at least 6-months to a year before the home search.

Two years into a global pandemic that created a record-high jump in the U.S. unemployment rate, Americans' financial health today, and their confidence in the economy, vary enormously. With stimulus payments and expanded unemployment benefits, some households were able to hold on to more of their income. Median checking account balances increased by more than 50% between July 2019 and July 2021, according to a study by the JPMorgan Chase Institute. But more than 6 in 10 Americans are either very or somewhat concerned about their personal financial situation, according to a June 2021 survey by the National Endowment for Financial Education.

Whether you're feeling confident or anxious about your finances in 2022, your credit score will be a key contributor to whether you'll be able to meet your goals. Good credit means having a FICO® Score of 670 or higher, and the closer your score is to the maximum of 850, the better.

My client and I have been working together for over a year before we started the home search. I spent more time guiding him, setting him up for success before the home search than during the home search. Believe it or not, in this crazy market with bidding wars, this client put an offer on the first home he liked, got into a bidding war and won. We spent not even a week finding a home and he was under contract. We know this isn't going to be the case with every client, however, having the right realtor on your side who is willing to guide you even before you start looking is key. If you want more information about buying your first home, I love what I do, I love helping people and would love to help you next!

Connect with me today!

Karen Manzanares

610.213.7471