3 Tips to Achieve Homeownership Easier and Faster in the Coeur d'Alene market

As a Coeur d'Alene, Idaho home buyer, the concept of having enough money in the bank to make a down payment can be overwhelming. Here are a few great tips to achieve homeownership easier and faster.

Financial preparation is the first - and perhaps the most important - step in the home-buying process. Get ready for your purchase by taking a careful look at your finances, especially your savings, credit, income and debt. If you have a down payment goal in mind, you'll reach it more quickly if you stick to these simple rules:

1. Pay yourself first. When you pay your monthly bills, the first check you write should be to your savings or investment account. It may be easier to have a portion of your paycheck automatically deposited into your savings account. Many employers that offer direct deposit also provide the option to allocate funds to more than one account.
2. Save tax returns and bonuses. It is tempting to go on a shopping spree when you receive a tax return, a large commission or a bonus. However, applying tax returns and bonuses to your down payment fund will give you a significant boost and may help you become a homeowner much faster.
3. Visit with a lender or a financial advisor. Many potential homebuyers are surprised to learn that saving money is just one way to acquire funds for a down payment. Homebuyers may be eligible for other sources of down payment funds, such as a local down payment assistance program. Homebuyers may also tap their 401(k) for down payment funds. A home mortgage consultant can help you learn more about these options.

There are several lenders in the Coeur d'Alene area that would love to have your business. Contact a Black Rock Properties Sales Professional for more information and to help you find the Coeur d'Alene home of your dreams. For more information, visit Black Rock Fine Homes.com