Centex Homes View Menu Share 5 Financial Steps to a New Home Buying a home is an exciting experience for you and your family’s future. Like any financial commitment, it’s important to educate yourself on the options and make sure your bases are covered. Follow these 5 steps to help get your finances in line… and you and your family on the road to a new home.† Step 1: Assess your financial situation Before you start shopping for a new home, you want to be sure that your earnings are steady and can handle the financial obligation of a Mortgage That means understanding your budget and expenses, and making sure you’re on track with retirement goals. And it’s a good idea to make sure you have an emergency fund to help cover unexpected expenses. Step 2: Check your credit score Having a good credit score can help considerably when negotiating a better rate on your home loan. For a clear idea of your credit health, obtain a copy of your Credit Report from each of the 3 major credit reporting agencies: Experian, TransUnion and Equifax. If there are any inaccuracies, contact the reporting company to make a correction, as it could help improve your overall score. Step 3: Figure out your price range Look into the cost of a new home and how much you can afford. This means doing a little research and taking all potential home-related expenses into account including your mortgage payment, homeowner’s insurance, property tax, utilities, HOA fees, maintenance costs and so on. Pulte Mortgage's Mortgage calculator is a helpful tool and good starting point. Step 4: Save up for a down payment Conventional loans have minimum down payments ranging from 5% to 20%; FHA loans require 3.5% if you qualify. If you’re eligible for veteran financing through the VA, you may not need a Down Payment Once you have your down payment goal, designate a monthly amount to put toward it in a separate savings account. Remember, the more you can put down when you buy, the lower your Monthly Payment will be and the less Interest you’ll pay overall. Step 5: Get prequalified With basic information on your income, savings and credit, your lender can give you an estimate on how much you qualify to borrow. Mortgage Calculator Launch Calculator A Better Way to Build WHY BUILD WITH CENTEX From understanding the stages of construction to choosing the right Centex partner, we are here for you throughout the build process. Learn More BENEFITS OF A NEW HOME If you’re still deciding if building is the right choice, consider these benefits of owning a newly-built home. Learn More OUR OTHER BRANDS MORE BY PULTE GROUP, INC. CUSTOMER SERVICE COPYRIGHT © 2019 PULTEGROUP, INC. PRIVACY POLICY TERMS OF USE SITEMAP †Centex is a homebuilder, not a mortgage lender. This is general information about financing the purchase of a home. For specific information that may be available to you, contact a mortgage lender. Financing available through Pulte Mortgage LLC. All loans are subject to underwriting and loan qualifications of the lender. Rates, terms, and conditions are subject to change without notice. Pulte Mortgage LLC is an Equal Opportunity Lender. NMLS Entity #1791. www.PulteMortgage.com (www.nmlsconsumeraccess.org)