If you have never owned your own home, then you may have it on your mind. If you are trying to decide whether or not this is a good time for you to finally buy a house, then you should ask yourself some of the questions you will find listed below:

How is the real estate market in your area?

Take a look at the real estate market in the area you are thinking of buying in. Make sure that you are going to even be able to afford a house that is going to meet your needs. If the houses that do meet your needs are well over what you can realistically afford to pay, then this may be a sign that you should continue saving up and improving your financial and credit situation for a while longer, until you are in a better position of affording the home you want.

How long have you been at your current job?

When it comes to qualifying for a loan, most programs are going to want to see that you have been in your current position for at least two years. Therefore, if you are somewhat new to your job, then you want to keep that position until you have been there at least two years and then you will be in a much better place for being approved.

What is your credit score?

You will need to have a certain credit score to be qualified. One thing you want to understand is the lenders will generally run all three scores from the three major credit reporting agencies. They will then toss out the highest score and the lowest score. This means the middle score is the one that they will use in order to determine your eligibility. If that score is somewhat low, then you should start focusing on raising your credit right now instead of thinking about buying a house at this moment in time. You may want to talk to a lender though, as they can be extremely helpful when it comes to telling you just what to do to get your score right where it needs to be.

How much do you know about what you want in a house?

If you aren't even close to knowing what it is that you want in a house or in the property it will sit on, then it's best for you to hold off until you have a better idea of the things that will prove to be important to you.

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