4 Signs You’re Ready to Become an Arizona Homeowner

4 Signs You’re Ready to Become an Arizona Homeowner

The state of Arizona is a wonderful place to live—especially if you’re ready to put down roots.

But how do you know if it’s time for this big move? Here are four good signs that you’re ready to buy a home in Arizona.

1. You’ve Fallen in Love with the Neighborhood.

Whether you’ve found your dream home in Phoenix, Scottsdale, or any other incredible city in the Copper State, a sure sign that you’re ready for this big move is that you’ve fallen for your future neighborhood.

Everything about your future home clicks: That’s how you know it’s the right fit. From the schools to city services, nearby attractions and amenities, highway access, and nightlife, your future neighborhood has it all.

Unlike the other signs, this one originates from within yourself and will provide the positive vibes to get you started on the process of buying a home.

2. You’re in Control of Your Debt.

We’re not talking about being debt-free, necessarily. Rather, being in control of your debt means that your finances are manageable, sustainable, and in good standing.

Life is busy. Between your student loans and credit cards, it’s unrealistic to expect to be 100% debt-free before buying a home. All you can ask from yourself is a strong credit score that may result in a successful mortgage application.

One of the most important factors under this debt test is your debt-to-income ratio. When you’re in good credit standing, your debt-to-income ratio will also be healthy. Among other things, it will provide the framework upon which lenders will approve and structure your mortgage.

3. You Have Job Security.

If you love your job and you’ve been there for a while, that’s a GREAT sign you’re ready to move on up into homeownership.

Steady employment, and the appropriate income, are significant factors to buying a home. When a lender decides to approve your application for a mortgage, your employment history and income will be two key indicators in their decision. Generally speaking, two years of continuous service at the same employer is ideal.

What if you have steady work but are a working as a freelancer? Don’t worry: Lenders can provide supplemental income confirmation paperwork for you to fill out.

4. You’re Ready for a Rainy Day.

In addition to a steady income from a steady job, a BIG sign that you’re financially prepared for a home is the flexibility and capability to save money.

In addition to a down payment, the other costs associated with the purchase of a home will require assets outside your income. That’s why a healthy savings account is instrumental to buying a home.

Now that you’ve checked off all the big boxes that demonstrate your readiness to buy a home, it’s time to think about what mortgage program will get you across the finish line.

Our loan programs include fixed-rate and adjustable-rate mortgage programs. We also have specialty loan programs and government-backed lending. We can help you decide which loan program meets your goals, especially now that you know you’re ready to own in Arizona.