You want to buy a home. How do you go about starting the process?

Before trying to purchase a home it is extremely important to know 2 things: 1. your credit score and 2. your debt-to-income ratio.

One piece of advice: don't be afraid to speak to a lender, they are there to help you get the best financing possible for you and to help point you in the right direction to fix your credit.

To find out what your credit score is go to www.annualcreditreport.com. After filling out personal information you will receive your credit report from each of the 3 credit bureas. You will want this information, but you will also want your credit scores. You can purchase your scores from this same company for around $5.95 per credit bureau.

The formula for calculating your debt-to-income ratio is monthly fixed expenses divided by gross monthly income (before taxes and deductions). Monthly fixed expenses include all debt, such as the following: house payment or lease, credit card and other revolving credit balances that it will take you longer than 6 months to pay off; car payments, alimony, child support, etc.


Do not include grocery, telephone, and utility bills or any debt in the calculation that will be paid off in the next few months.


Sample debt to income ratio calculation:


Gross monthly household income: $5,000


Fixed expenses: $1,560
[house payment $540.00 + car payment $370.00 + credit cards $250.00 + child support $400.00]

Debt-to-income ratio calculation:


$1,560
$5,000 = 31%


A debt-to-income ratio of 31% is considered very high to debt management professionals; however, it is not considered too high for many lenders. Ideally, to budget managers, a debt-to-income ratio should not exceed 20%. Of course, the lower it is the better.

If you are looking to purchase a home please give us a call at 910-483-2244 and we will assist you in getting your financing in place.

Working With Real Estate Agents

Did you know that as a buyer, UNLESS you sign Buyer's Agency with a real estate agent, that any agent you speak with REPRESENTS THE SELLER?

The North Carolina Real Estate commission mandates that once we speak with a buyer/seller, we, as real estate agents, at first substantial contact (which could be as little as asking us if they'd accept less than the listed price) must present and explain the "Working With Real Estate Agents" brochure.

Here's a link to the brochure: "Working With Real Estate Agents"

**This is NOT a contract**

**By reading over and completing the "Working With Real Estate Agents" brochure you acknowledge that you understand the role an agent plays in the real estate transaction**

We want to represent YOU! It's at NO COST to you and we work to make sure your best interests are met!

Click here if you would like us to represent you.

**This IS a CONTRACT. **

**Please be sure to fill it out in it's entirety with CORRECT information.**

Fayetteville - Home Sweet Home!

I'm originally from Janesville, WI - The City of Parks, Geraldo once graced us with his presence, and also the home of a soon-to-be closing GM. I've been back in Janesville for the past few days, and it's shown me a lot.

While I've been here in Janesville, I've craved pulled-pork bbq sandwiches and sushi. I even got my niece and nephew both to try sushi (neither of them really cared for it). But it made me realize how Fayetteville has expanded my horizons, not only with food, but also culturally.

It's been bittersweet being back in Wi. I had a blast seeing my sister get married and getting to hang out with the family; but, at the same time it's been depressing. GM is a big deal to this city and YES you can see the effects that the announcement of the closure is having. For example, while driving around town I saw a TON of For Sale signs from real estate companies, not only that, but twice as many were For Sale by Owners. It seems everyone is already preparing for the day that GM closes their doors. I fly home to Fayetteville, NC in a few hours and honestly can't wait to get home, but it's been nice and I wish Janesville the best of luck.