Home Buyer's Checklist

FREE Home Buyer’s Checklist

Buying a home is very exciting and it can be frustrating in this market if you’re not prepared. Successful buyers prepare well in advance so when they do find their perfect home, they are ready to submit their best offer. 

Be prepared with this home buying checklist:

  1. Determine your budget. How much house can you afford? Start by calculating your monthly income and debt. Lenders will evaluate your ability to qualify for a loan with your Debt-to-Income Ratio. Be sure your DTI ratio is well below 43%.

  2. Check your credit report and FICO score. There are many free services available online, yet they may not reflect your actual FICO score lenders pull. Sometimes, the free VantageScore you may receive from your banking site or other free resources such as NerdWallet may differ. Be sure to pull your credit reports and rectify any inaccuracies that may bring your credit score down. Determine if you should pay off a loan in order to qualify for a mortgage loan in the future.

  3. Use a mortgage calculator. Determine how much you need for a down payment and what your monthly payment might be with a free online mortgage calculator. Visit our easy to use mortgage calculator here… https://www.coloradolivingestates.com/buyers/mortgage-calculator.

  4. Get pre-approved for a mortgage. First, decide if you want a fixed or adjustable rate mortgage. Then speak to at least five lenders and mortgage brokers to shop for the best interest rates and programs. (My Clients get access to my recommended list of mountain area lenders. Ask for more information on Amber's buyer resources.)

  5. Make a wish list. What do you want in a home? Choose a location, size (single- family, condominium, etc.) and architectural type (Victorian, Mid-Century Modern, etc.) and most importantly, pick a price range that meets your budget.

  6. Drive by the neighborhood. When you find a home you like, even if you’re not ready to buy yet, take a drive through the neighborhood to determine if you like the accessibility to the property, get a feel for the neighborhood, and then determine if you would like to pursue buying in that area.

  7. Work with a REALTOR®. Knowing what you want and how much you can afford is only the starting point. Working with an agent in the area you want to buy in is crucial to not only finding your dream home, but a successful transaction.  

If you’re able to complete these preliminary steps, your home buying process will be that much easier and you can stay focused on what you want. Please contact me with any questions or for guidance through any or all of these steps.

I look forward to working with you!

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(970) 776-6975

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