01/20/2022
Are you thinking about purchasing your first home this year?
In 2021 the housing market was on FIRE🔥🔥…from record setting sales to record low rates.
Purchasing a home isn’t as difficult as one may think. It’s actually pretty simple and straight forward, well kinda lol.
1. FHA requires a minimum of a 580 credit score, this does vary from lender to lender though.
2. Two years tax returns. The feds want to see that you can hold steady employment. A 15-30 mortgage is a big commitment, so the longer the job history the better.
2. 3.5% down. The amount will depend on the total cost of the home. You’ll want to have this saved (seasoned) in your account for at least 60-90 days prior to your pre approval. They want to see a paper trail.
Hope this helps 👊🏽
