Secrets to finding the right home at the right price with the right financing

Lots of homebuyers waste time and money by not doing their homework before going home shopping. Here’s what you should do: • Analyze your NEEDS before you start looking. Make a list, including price range, size, general location, number of bedrooms, bathrooms, etc. • Know what you WANT in your next home. List the features you’d like to have and rank them in terms of importance. If you have a spouse, set your priorities as a couple. • Understand how much home you can afford. Become familiar with your “payment-to-income ratio” and your “debt-to-income ratio,” two guides bankers and mortgage lenders use to determine how much loan you can afford.