Do I have a steady source of income?
Have I been employed on a regular basis for the last 2-3 years? Is my
current income reliable?
Do I have a good record of paying my
bills?
Do I have few outstanding long-term
debts, like car payments?
Do I have money saved for a down
payment?
Do I have the ability to pay a
mortgage every month, plus additional costs?
If you can
answer "yes" to these questions, you are probably ready to buy your own home.
How Do I Begin the Process of Buying a Home?
Start by thinking about your
situation. Are you ready to buy a home? How much can you afford in a monthly
mortgage payment? How much space do you need? What areas of town do you like?
After you answer these questions, make a "To Do" list and start doing casual
research. Talk to friends and family, drive through neighborhoods, and look in
the "Homes" section of the newspaper.
