Want to buy a house? It’s time to get your finances in order!

If your financial situation kept you from buying a house in 2019, you’re not alone. The National Foundation for Credit Counseling found that half of Americans tried to buy a house but ultimately weren’t able to. There were several reasons why buying a house was difficult for Americans, including the cost of houses, a lack of down payment funds, existing debt and a low credit score.

While we can’t directly control the cost of houses in the market, we can work together to get our finances in order. By creating a budget to pay off debt, save for a downpayment and build strong credit, you can be well on your way toward purchasing a house in the near future. Your financial circumstance now does not have to dictate your ability to buy a home!

If you want to get your finances in order and start saving for a house, there are a number of things you can do. First, attend a local Homebuyer Education Course. In Memphis, United Housing offers multiple courses each month. In this class, you’ll learn how to build and keep up a budget – which can help you save for a downpayment while paying off your debts. You’ll also learn about the importance of building credit and how to monitor your credit score.

Homebuyer Education courses also help you understand the homebuying process. You’ll learn about mortgage types, the importance of working with a trusted Realtor and how to choose a neighborhood. Ultimately, you’ll leave feeling confident that homeownership is something you can achieve.

At United Housing, we understand how challenging it can be to buy a home, especially when you’re unfamiliar with the process. That’s why we offer support to Memphians – from Homebuyer Education to lending. If you want to start working toward becoming a homeowner, contact us today.