GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
It doesnt matter whos in the White House.
Millions of Americans will always want to behomeownersand strive to move closer to that goal each year.
These are some of the financial moves homeowners should make before the inauguration.
Also here are other money moves to make under a Trump presidency.
Lock in a lower interest rate, he said.
Rates can shift with political changes, so pre-approval now can save thousands.
Rodgers outlined how it’s possible for you to tell if you are ready for a home purchase.
Youre ready if your finances are stable consistent income, manageable debt andsome emergency savings.
Beyond numbers, mindset matters.
They realized readiness isnt perfection its preparation and adaptability.
He recommended reviewing your credit report and assessing your FICO score.
This will help you get in a good position for mortgage approval.
Review your DTI Ratio
You shouldnt stop with your credit report.
Morgado also recommended checking another important metric.
Build Up Down Payment Savings
Morgado also recommends prioritizing your down payment savings.
You also need a solid down payment savings plan, he explained.
you’ve got the option to also look for a high-yield savings account.
You should think about the neighborhood, property size, backyard and other details that matter to you.
Morgado offered some suggestions of what to consider when creating your criteria.
Finances are also a key part of the decision-making process, as Morgado explained.
Rodgers also provides succinct advice when it comes to finding the right home.
Write down your must-haves location, space, features and think long-term.
Buy for the life youre building, not just today.
Its about finding a home that fits you now and grows with you, he said.
More From GOBankingRates
Share This Article:
