Getting in Financial Shape to Buy a Home
Buying a home in Austin is exciting and scary. Many times people are intimidated to start the home buying process because they are afraid they’ll be turned down for a loan or they won’t have enough reserves for downpayment and closing costs. Once I finally convince them to talk to a lender they are shocked and thrilled that they are in better shape than they thought. The opposite is also true. Many times people are confident of their chances at getting a loan and are confident they won’t need much money for downpayment or closing costs. They are often disappointed to find out that they need to get in financial shape in order to buy a home in the Austin area.
So when getting in shape to buy your new home in Austin, should you save for a down payment or pay off that debt first? Well I sat down with Josh Flores at Supreme Lending to have this very conversation.