5 Indicators That Show You're Ready for Home Ownership

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Buying a home is the biggest step mankind can make toward the American Dream, and you need to be sure you're ready or you can end up with a financial disaster. Luckily, your life and bank account give you clear signs to guide your way. If your financial planning indicates you are ready for home ownership, then this could be the perfect time to buy.
5 Indicators That Show You're Ready for Home Ownership

2You Have (Really) Good Credit

If you've got a credit score in the 700s and up, now is the time to brag. Your credit score has a huge effect on how much interest you pay, and a low score will land you with an interest rate that may not be worth buying a house. Over the life of your mortgage, you can save tens of thousands of dollars or more by having a credit score in the mid-700s or higher. Another important aspect is the amount of debt you are carrying. Debt-free and good credit score? Pony up to the real estate bar—you're ready for business.

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