Areas We Serve

NMLS ID#849168 www.nmlsconsumeraccess.org

State Licenses Issued by:
NC Commission of Banks #L-153764
SC Board of Financial Institutions #MLS 849168
TN Dept. of Financial Institutions #113679
VA State Corporation Commission #MC-5622

Things to Consider Prior to Buying

Home ownership has been a mainstay of the American Dream through out history.  The opportunity to no longer pay rent for the roof over your head coupled with the prospect of appreciation on your investment has fostered our desire for home ownership.  However, before jumping into a home purchase, consider the following:

 

1.  Are you prepared to stay put?  Generally it does not make sense to own a home for less than three or four years due to the high transaction costs associated with buying and selling real estate.

 

2.  Check your Credit Report.  Make sure your credit history is clean and fix any problems you discover.  For additional information on the mysterious Credit Score, and factors that affect your score visit Credit Facts Fidelity Capital Mortgage Company can help you prequalify and order a credit report on your behalf.

 

3. Determine how much house you can afford.  Use our Affordability Calculator to determine the appropriate debt to income ratio based on your annual income versus expenses.

 

4.  Have you saved for a down payment? If you can manage to put 20% of the purchase price as a down payment, you will appreciate the monthly savings by avoiding private mortgage insurance (“PMI”) which lenders require for loans with less than 20% down.

 

 

 

 

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