Cherry Creek Mortgage
First Time Homebuyer 13 December 2018

Making Home Ownership Affordable

The prospect of becoming a homeowner may be intimidating financially, Today we’re providing some insight into how to make it more affordable, so read on!

We suggest that the first thing you do is to rework your budget. Find out what items are absolute necessities and what things you may be able to cut out. Some of these cuts may slightly change aspects of your lifestyle, but it’s far more doable than you may initially think. Whether that be eating out less, pursuing more free activities or vowing to live off of what you already have- there are numerous sources through technology that make each of these things much simpler than they used to be. Even occasional visits to a coffee shop add up quicker than you think!

Considering the home itself, think outside of the box and maybe broaden the area in which you’re searching. The suburbs can be a great, more affordable option. One of the great parts about the suburb is that you get more for your money and can even wind up with some outdoor space if that’s a priority to you. Something which you can do before the home buying process is to boost your credit score. While it won’t decrease the cost of your down payment, it will give you access to better rates which will help with your payments and also the amount you pay in total for your mortgage.

Get in touch with a loan officer to see your possibilities when it comes to home ownership!