How To Purchase A Home in 14 Month

Develop A Plan
What is your…

  1. Desired Area?
  2. Preferred Price Range?
  3. Current savings for Downpayment and Closing cost?
  4. Credit Score

    person handing keys
    Photo by on

Credit Report
Goal: Achieving a low debt to income ratio

  1. Pay off credit cards
  2. Pay off or dispute all items in collections
  3. Avoid any new credit and credit inquiries
  4. Make all payments on time
  5. Give yourself a time frame to reach your goals and make payments

Up-Front Cost
Goal: Save for Downpayment and Closing Cost

  1. First-time home buyer (multiply home price by 3 or 5%)
  2. Develop a plan and budget to save for downpayment and closing.

Example: $250,000 x .05 = 12,5000 downpayment + $5000 in closing= 17,500

3.  Eliminate excuses. Everyone can save money when they are serious about a goal
and prioritize. Check out my two articles on Budgeting for Beginners and 7 Side
           Hustles You Haven’t Considered.

House Hunting
Goal: Finding the right home.

  1. Search in your desired area, don’t allow the agent to take you somewhere you don’t want to be or that’s too far away from your resources.
  2. Decipher what you can afford in renovations. Some upgrades are okay going in, but too many upgrade can be stressful.
  3. Make an offer with a voided 1% earnest deposit that counts towards your downpayment. Attach your current bank statement with account number blacked out to show proof of funds.
  4. Once offer is accepted with a signed contract from the seller. Take a non-voided earnest deposit check to the escrow company,

Closing should occur within 30-45 days.

Now get my new e-book First Time Home Buyer: Journey to Owning a Home on


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