How To Get Home

I received a phone call today from a couple who was driving around last weekend and just happen to come upon an open house. It was their dream home and it had everything they could ever want in a home. Pool, bonus room, and huge walk-in closets made it easy for them to decide it was meant to be. Later that same day, they signed the contract to purchase said dream home with a closing date in four (4) weeks.

They were told that another family was looking at the house and were planning to bring an offer. So the original couple made their offer not contingent on the sale of their current home. After a few minutes into our conversation, it was clear that they had not figured out how everything was going to work, but that there “had to be a way.”

When a football team huddles up, they are making a plan for the next play. Before kickoff, the coaching staff came up with a game plan. Before the season started, the players and coaches worked hard to get ready for the big year. A good game plan is critical to success whether you are trying to win a football game or buy a house.

If you are thinking about buying a new home, take a few minutes and talk with a Mortgage Planner to find out where you stand financially and what you qualify for. Based on your current debt, income, and credit score, you and your lender will be able to determine how much house you can afford and just as important, where you are comfortable with a house payment.

If you have a house to sell and are considering buying the new home BEFORE your old one sells, make sure you have a very good game plan. In today’s market, there are very few certainties. Talk to your Realtor about the specific sales trends in your local area. Understand what the average days-on-market is for your type home. Can you qualify for both homes at the same time if your existing home does not close first? Will you need a bridge loan? Do you want a bridge loan? It is important to consult with your lender and your agent to come up with a good plan BEFORE you decide to go out and look at homes for sale.

A good rushing offense can win a football game, but rushing into the home buying process can cause trouble.