{"id":2353,"date":"2022-01-17T14:38:52","date_gmt":"2022-01-17T14:38:52","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2353"},"modified":"2022-01-17T14:38:52","modified_gmt":"2022-01-17T14:38:52","slug":"achieving-dream-homeownership","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/achieving-dream-homeownership\/","title":{"rendered":"Achieving the Dream of Homeownership"},"content":{"rendered":"
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Achieving the Dream of Homeownership<\/p><\/div>\n

Homeownership has long been considered the American Dream, and it\u2019s one every American should feel confident and powerful pursuing. But owning a home is also a deeply personal dream.\u00a0Our home provides us with safety and security, and it\u2019s a place where we can\u00a0grow and flourish<\/a>.<\/p>\n

Today, we remember the legacy of Dr. Martin Luther King, Jr. Many of us will remember his passion and determination for the causes he championed, including his famous \u201cI Have a Dream<\/a>\u201d speech in 1963. As we reflect on his message today, it may inspire your own dream of homeownership. And if so, know\u00a0you\u2019re not alone. With a trusted real estate advisor<\/a> at your side, you can begin your journey toward homeownership by answering the questions below.<\/p>\n

1. Where Do I Start?<\/strong><\/h4>\n

The process<\/a> of buying a home is not one to enter into lightly. You need to decide on key things like how long you plan on living in an area, how much space you need, what kind of commute works for you, and how much you can spend.<\/p>\n

Then, when you decide you\u2019re ready to buy, you\u2019ll need to apply for a mortgage<\/a>. Your lender will look at several factors to determine how much you\u2019re able to borrow, including your credit history. Lenders want to understand how well you\u2019ve managed paying your student loans, credit cards, car loans, and other past debts.<\/p>\n

According to Freddie Mac<\/em><\/a>:<\/p>\n

\u201cTo get a rough estimate of what you can afford, most lenders suggest that you should spend no more than 28% of your monthly gross (pre-tax) income on your mortgage payment, including principal, interest, taxes and insurance.\u201d<\/em><\/p><\/blockquote>\n

2. How Do I Save Enough for a Down Payment?<\/strong><\/h4>\n

Speaking of how much you can afford, you\u2019ll want to know what to save for a down payment<\/a>. While the idea of saving for a down payment can be daunting, there are many different options and resources that can help.<\/p>\n

According to Business Insider<\/em><\/a>, automatic savings can bring you one step closer to achieving your target down payment:<\/p>\n

\u201cIf you receive your paycheck as a direct deposit, you may want to arrange for your company to send a percentage of each check directly into a savings account for the down payment. . . . The automatic-savings strategy makes it so you don\u2019t have to constantly remember to save money.\u201d<\/strong><\/em><\/p><\/blockquote>\n

Before you know it, you\u2019ll have enough for a down payment if you\u2019re disciplined and thoughtful about your process. And the best part is, you may need to save less for your down payment<\/a> than you think. Your agent and lender can help you understand your options.<\/p>\n

3. How Can I Reach My Financial Goals?<\/strong><\/h4>\n

Another way to increase your savings is by sticking to a planned budget. If you\u2019ve never budgeted before, there are tools available. For example, MoneyFit.org<\/em> provides a budgeting worksheet<\/a> you can use to create your own plan and five rules<\/a>to follow when you\u2019re saving. They recommend you:<\/p>\n

    \n
  1. Identify Goals<\/em><\/li>\n
  2. Record Expenses<\/em><\/li>\n
  3. Record Earnings<\/em><\/li>\n
  4. Compare and Calculate<\/em><\/li>\n
  5. Fix Weak Spots<\/em><\/li>\n<\/ol>\n

    If you\u2019re already budgeting, consider finding ways to tighten your spending a bit more to accelerate your journey to homeownership. After all, putting even a little extra into your savings each month can truly add up over time.<\/p>\n

    Bottom Line<\/strong><\/h3>\n

    As you set out to realize your dream of homeownership this year, know that it\u2019s achievable with careful planning. Most importantly, let\u2019s connect today so you don\u2019t have to walk alone on this journey.<\/p>\n

    Contact us:<\/strong>
    \nPHP Houses
    \n142 W Lakeview Ave
    \nUnit 1030
    \nLake Mary, FL 32746
    \nPh:\u00a0(407) 519-0719<\/span>
    \nFax:\u00a0(407) 205-1951<\/span>
    \nemail:\u00a0info@phphouses.com<\/p>\n

    Let\u2019s Connect:<\/strong>
    \n    Facebook<\/a>
    \n    Linkedin<\/a>
    \n    Twitter<\/a>
    \n    Instagram<\/a><\/p>\n

    The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"

    Homeownership has long been considered the American Dream, and it\u2019s one every American should feel confident and powerful pursuing. Finish Reading Achieving the Dream of Homeownership<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[340,38,15,10,18,16,27,91,86,52,208,32,203,25,9,49,42,40,444,63,20,48,47,19,6],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2353"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=2353"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2353\/revisions"}],"predecessor-version":[{"id":2355,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2353\/revisions\/2355"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}