Take a look at the checklist below.
If you can answer “yes” to most of these
questions, then you are ready to buy a home. If you
answer “no” to most, then it’s recommended
that you focus on strengthening these areas before you
consider purchasing a home.
•
Do you have a continuous,
reliable source of income?
•
Have you been employed continuously
for at least the past two years and is this likely
to continue?
•
Do you
have a checking and/or savings account, and are
they in good standing (no delinquencies, no bounced
checks)?
•
Do you pay your bills on time?
•
Do you file a tax return with
the IRS each year?
•
Do you have money saved for a
down payment and closing costs?
•
Can you afford the mortgage payment
along with your other financial obligations and
living expenses?
