Want to buy a Wilmington Home? Search all homes for sale.
There are a few things that affect your buying power. There are four in particular that are important to keep in mind.
- Credit score: Your credit score determines your credit worthiness. It provides supplemental information on whether or not you qualify for a loan.
- Down payment number: This is the amount of money to put down initially when purchasing a new home. It also could include closing costs. Generally, the more you’re able to put down, the better off you are.
- Debt-to-income ratio: This number determines whether you even qualify for a loan. The lower the debt, the better off you will be! Pay off the most debt you possibly can before entering a real estate transaction.
- Assets: This pool includes your most valuable items, such as cars or other expensive things. Lenders want to see where your income is coming from and going to.
Reach out to us if you’re interested in buying or selling a home in the surrounding Wilmington area. We’d be happy to answer any real estate concerns you might have, and we can even help find the true value of your home. We look forward to hearing from you!
