First-time Homebuyer Financial Fundamentals in San Diego If you’re preparing to purchase your first home, one of the first steps you need to take at the beginning of the homebuying process is to ensure that you’re financially ready for homeownership. Here are 3 financial fundamentals you should focus on before setting out on your homebuying journey: • Automate your savings towards your down payment – if your employer will do so, have them direct a portion of your regular earnings into a separate account that is set up as a down payment and homebuying savings account. • Build your credit – making sure your credit is in the best shape possible is essential to getting a home loan. It helps determine the type of home loan you’ll qualify for and has a direct bearing on how much interest you’ll pay. Keep your credit card balances as low as possible, monitor your credit history, and pay your monthly bills on time. • Get pre-approved – this will let you know how much you’ll be able to borrow for a home loan. At this point, you can start browsing homes online and find out what’s available in the area where you want to live. Discussing your needs with an experienced mortgage broker will help you make a well-informed decision when purchasing your first home. https://www.google.com/maps?cid=16824122314408091412