When it comes to buying your first home, you need to prepare yourself financially before you start house hunting. Here are a few steps to get you started. First, consider where you want to live. For many young adults, the location of that first home is a big consideration. Make sure the city you decide to buy in is a place you wouldn't mind staying for a while. Experts advise would-be buyers to plan on staying five to seven years. Second, figure out how much home you can afford. To find your housing budget, you need to determine the monthly payment you'd be comfortable making. You can use a mortgage calculator to "work backward" toward your purchase price. A mortgage pre-approval is also a great way to determine how much home you can afford. Third, know your credit score. It plays a big role in qualifying for a mortgage. Generally, the higher your score...the better the interest rate you can expect. A score of 740 or above is considered strong, but you can still qualify for a range of options with a score between 600 and 740. If you check your credit report early, you will have enough time to change any bad spending habits and correct any issues.

Share:
More In Business
Sex is a big market for the AI industry. ChatGPT won’t be the first to try to profit from it
OpenAI has announced that ChatGPT will soon engage in "erotica for verified adults." CEO Sam Altman says the company aims to allow more user freedom for adults while setting limits for teens. OpenAI isn't the first to explore sexualized AI, but previous attempts have faced legal and societal challenges. Altman believes OpenAI isn't the "moral police" and wants to differentiate content similar to how Hollywood differentiates R-rated movies. This move could help OpenAI, which is losing money, turn a profit. However, experts express concerns about the impact on real-world relationships and the potential for misuse.
Load More