12 Tips On Getting Ready To Buy A Home
Sometimes it’s GOOD to be BAHD.
It’s always a great idea to start planning to buy a home or sell and buy again some 3 – 4 months out. I am sure you have all read about diet plans like Keto, Fasting, Detox and the Mediterranean, well we have developed the BAHD Plan for home buyers.
Like all diets, the 3-month BAHD Plan, “Buying A Home Diet” is all about cutting out, moderation and planning.
As one of the key criteria for a mortgage is your ability to meet the repayments all lenders look closely at your spending habits in the 3 months before applying for the home loan, especially with interest rates on the rise and predicted to go higher. They do this by “scraping” your bank statements which then categorises where your income goes. It is hard to say, “I will change once I have a mortgage”, lenders like to see that you have already made the effort and are showing good money management skills.
So here are some of the tips if you want to try our BAHD Plan, it does work and will help you qualify for a Home Loan. We have reviews for you to read as well.
Here are twelve dos’, don’ts or try to do a little less if you are going to try the BAHD way.
Some of these things may take a little longer than 3 months and you may have to stay on the BAHD Plan a little longer, but if you have made a start, a Non Bank lender may still be able to help you.
The best thing about BAHD is it can help you pay your Home Loan off faster as well.