5-Step Preparation Process for Buying a House

Buying a house is much more than taking out a mortgage and making sure that your monthly payments are in order! You need to make some financial changes in your life, which might mean living a simpler life, just for a while until you can save enough. You won’t be able to start saving money until you are prepared mentally.

It’s all about the finances, and that is what we are here to talk about. Whether you are planning to buy a house tomorrow or in the near future, you need to create a game plan and list down all the steps that you “will” follow to bring that savings account back up. Though taking out a mortgage is not that hard, the problem arises when you fail to keep up with monthly payments.

Following four steps  will help you improve your finances, and finally allow you to buy your dream house:

Step #1

Get Your Priorities in Order

It’s time to make some cuts in your life. Anything unnecessary that is more of a luxury than a necessity can take a lot out of your budget. The budget you set does not just include the house. It includes the expenses you will incur after buying the house such as electricity bill, grocery, maintenance, utilities, property taxes, homeowners insurance and repairs. This is nothing to be alarmed of because these are basic expenses, which you will have to pay for from you savings account. If your personal account does not cover these expenses, you can apply for a mortgage.

Step #2

Repairing Credit Score

The higher your credit score, the better terms you will get on your mortgage. Banks and private lenders always ask for a credit score before giving out a mortgage. Late payments and previously standing loans are usually the cause of a declining credit score. You can bring your credit score back up to the lender’s requirement in no time by fixing it, starting from six months back. Here’s how to do it:

  • Use only 35% of the credit line
  • Make monthly payments instead of yearly
  • Don’t go for a new credit line if the old one has maxed
  • Keep making payments until the credit score is 720

Step #3

Credit Builder Card (Optional)

Some people might say that a credit builder card is a scam but if you have a steady job and your priorities are straight, you can easily reach the required credit score range. These cards issued by the bank allow you to increase the credit rating much faster when you make the payments. The only drawback of this card is that it operates on a high interest rate.

Step #4

Save Money for the Down Payment

Putting down the down payment can be very hard, especially when you don’t have a good credit score. In order to save money for the down payment, you need to do the following:

  • Stop overspending (the higher the down payment, the lower the interest rates on the house will be)
  • Don’t make payments from your credit card
  • Think about selling your car any other asset for the down payment and other fees (invest in savings vehicle)

Step #5

Apply for an FHA Loan Program

The standards of an FHA loan have been specifically set for first time home buyers. These loans are easy to get if you have a steady income and meet the requirements set by the FHA-approved lenders. The credit score required for this is 580, where borrowers can get a down payment as low as 3.5%.

As first time home buyer, you may find the process a bit overwhelming. As mentioned earlier, as long as you have a steady income and make monthly payments on time, you can make your “American Dream” of being a homeowner come true. You can learn more about home buying and the purchase process to the closing at https://www.kstrealty.com/.

Homes for Sale in Atlanta

Price
Beds
Baths
For Sale / All Types
New Listing - 2 weeks online
$294,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
7107 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$288,421
Single Family Home For Sale
Pending
3
BED
2
TOTAL BATHS
1,802
SQFT
673 Python Drive
Atlanta, GA 30349
Camden Manor Subdivision
$324,990
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
3,363
SQFT
7064 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
New Listing - 2 weeks online
$287,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
7067 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$299,026
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
3,040
SQFT
7057 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
Price Change - 3 weeks ago
$284,990
Single Family Home For Sale
Pending
3
BED
2
TOTAL BATHS
2,200
SQFT
7044 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$329,990
Single Family Home For Sale
Pending
6
BED
4
TOTAL BATHS
3,363
SQFT
663 Python Drive
Atlanta, GA 30349
Camden Manor Subdivision
$288,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
7027 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$312,478
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,544
SQFT
7014 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$299,990
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
3,040
SQFT
7007 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$289,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
6997 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$4,000,000
Single Family Home For Sale
Active
7
BED
9
TOTAL BATHS
15,159
SQFT
4690 Thompson Road
Atlanta, GA 30349
 
$8,900,000
Single Family Home For Sale
Active
9
BED
14
TOTAL BATHS
26,000
SQFT
4965 Butner Road
Atlanta, GA 30349
 
$310,235
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,443
SQFT
555 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
Short Sale
$195,000
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,639
SQFT
432 Hammock Loop
Atlanta, GA 30349
 
New Listing - 6 days online
$277,303
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,260
SQFT
3216 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
New Listing - 6 days online
$290,182
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,545
SQFT
3217 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
New Listing - 4 weeks online
$306,071
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,525
SQFT
3208 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
New Listing - 6 days online
$280,112
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,545
SQFT
7147 Glaspie Way
Atlanta, GA 30349
Kingsland Subdivision
$310,500
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
3,033
SQFT
510 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
New Listing - 4 weeks online
$310,089
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
2,680
SQFT
3221 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$272,803
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,260
SQFT
3204 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$280,508
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
2,487
SQFT
3200 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$327,527
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
3,077
SQFT
455 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
$239,900
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,972
SQFT
400 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
$271,053
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,260
SQFT
3225 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$278,990
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,522
SQFT
3220 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$263,389
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,122
SQFT
3235 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$271,500
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,487
SQFT
3239 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$267,389
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,122
SQFT
3243 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$286,258
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
2,487
SQFT
3247 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$267,389
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,108
SQFT
3251 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$268,789
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,122
SQFT
7143 Glaspie Way
Atlanta, GA 30349
Kingsland Subdivision
$282,173
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,260
SQFT
7139 Glaspie Way
Atlanta, GA 30349
Kingsland Subdivision
$245,700
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
2,404
SQFT
3492 Dacite Court
Atlanta, GA 30349
Flat Shoals Manor Subdivision
New Listing - 2 weeks online
$194,990
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
6526 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$205,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6517 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$206,990
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
6577 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 4 days online
$205,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6509 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 days online
$205,990
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
6501 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$204,990
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6522 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 days online
$205,990
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
6506 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$258,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6538 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$218,990
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6513 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$218,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6518 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 days online
$218,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6498 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 days online
$218,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6510 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$258,990
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6566 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$218,990
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6521 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 days online
$218,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6505 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 2 weeks online
$198,740
Single Family Home For Sale
Pending
3
BED
2
TOTAL BATHS
6605 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$165,990
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
1,800
SQFT
6857 Estepona Street
Atlanta, GA 30349
Heritage Park Subdivision
$162,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,800
SQFT
6690 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
$169,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,000
SQFT
6683 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
$167,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,000
SQFT
2205 Creel Road
Atlanta, GA 30349
Heritage Park Subdivision
$174,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
2,217
SQFT
6790 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
$169,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,000
SQFT
6735 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
$162,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,800
SQFT
6742 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
$176,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
2,217
SQFT
2281 Creel Road
Atlanta, GA 30349
Heritage Park Subdivision
$162,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,800
SQFT
2273 Creel Road
Atlanta, GA 30349
Heritage Park Subdivision