When is the Right Time to Purchase a Home?

With the uncertainty of the economy, it is completely understandable to be afraid to take that next step towards purchasing a Schaumburg home. But, the real question is what are you really afraid of? From experience it’s one of three things most people are either are nervous about the economy, don’t think they have enough money for a down payment, or are waiting for the market to hit rock bottom. If you are unsure about your job or finances PLEASE WAIT TO PURCHASE A HOME. Just because the market time is right to purchase, it doesn’t mean the time is right for you. If you are scared about a down payment nowadays all you need is 3.5% of the purchase price to put down on a FHA loan. But, if you are waiting for the market to hit bottom ask yourself… When do we know when the market is at the bottom? Prices begin to go up!  

So you have to really ask your self is the right time to purchase? If that answer is yes you are about to enter the greatest Schaumburg Real Estate market to purchase a home and obtain a great value. If you are going to purchase a home just make sure you go through the process properly and find someone to help guide you through the number crunching process.

The main reason that we are having the economic problems is that home buyers got into mortgages they simply could not afford. Remember the home price means nothing if the payment is not comfortable. So you first want to be in contact with a mortgage professional that can get you preapproved. It is a fairly easy process. With some basic information about your income, debts, credit score, and job history you can get a working idea of what your numbers look like. Most people think it is hard to obtain a mortgage. That is not the case. People are able to obtain a mortgage that should be able to obtain a mortgage. If you have a credit score of 620, have 3.5 percent to put down, make a decent salary, and have a good debt to income ratio, odds are you can purchase a home. 

If you want to find out if you can buy a home Feel free to click below to fill out a short mortgage application http://www.aaronwittenstein.com/custom3.shtml. Jason Spock with Woodfield planning will be in touch with you to talk about your numbers. Don’t be unnecessarily nervous to take the next step. Just take the time to gather some information and find out what’s best for you.

For more information visit www.AaronWittenstein.com