There’s no doubt that buying a home requires a major financial commitment. The question isn’t will you have to come up with money, it is how much and for what reasons.
You will need to secure a loan from a bank or mortgage company to purchase your new home. The mortgage company will require you to bring a substantial amount of money to the table. If you don’t have an extra $5,000 to $10,000 saved, the lender is not going to extend a loan to you.
There’s typically three reasons why you might not have the money saved.
(1) You don’t know how to budget and save money.
(2) You’re not disciplined to keep it.
OR
(3) You give up trying to save because it’s too difficult.
You need a budgeting and savings system that addresses these challenges.
We know that saving money and following a budget is difficult, especially considering the social pressures of spending money on events like graduations, birthdays, and holidays. Throw in needy friends and family and the occasional unexpected-emergency and it seems nearly impossible to SAVE anything.
We have the solution. We have a savings plan called the “Good Faith Commitment” or gfc savings program to help you save money.
You will need to secure a loan from a bank or mortgage company to purchase your new home. The mortgage company will require you to bring a substantial amount of money to the table. If you don’t have an extra $5,000 to $10,000 saved, the lender is not going to extend a loan to you.
There’s typically three reasons why you might not have the money saved.
(1) You don’t know how to budget and save money.
(2) You’re not disciplined to keep it.
OR
(3) You give up trying to save because it’s too difficult.
You need a budgeting and savings system that addresses these challenges.
We know that saving money and following a budget is difficult, especially considering the social pressures of spending money on events like graduations, birthdays, and holidays. Throw in needy friends and family and the occasional unexpected-emergency and it seems nearly impossible to SAVE anything.
We have the solution. We have a savings plan called the “Good Faith Commitment” or gfc savings program to help you save money.
This savings system includes FREE consultations with (1) a backoffice where everything is tracked, (2) a custom plan for your budget and (3) a custom plan to address your credit profile.
During the budgeting consultations, we examine your income and expenses.
Hopefully, your income is greater than your expenses, and you have a positive differential. It’s positive because you have more income each month than you do expenses. This is the source from which you save money. If your income is say, $3,000 a month and your expenses total $2,000 a month. This means you have $1,000 a month to work with.
If your expenses exceed your income then you are living beyond your means and you have a negative differential. We help you turn that negative into a positive differential.
We use the positive differential to address paying off debts that you may have and to save money.
During the budgeting consultations, we examine your income and expenses.
Hopefully, your income is greater than your expenses, and you have a positive differential. It’s positive because you have more income each month than you do expenses. This is the source from which you save money. If your income is say, $3,000 a month and your expenses total $2,000 a month. This means you have $1,000 a month to work with.
If your expenses exceed your income then you are living beyond your means and you have a negative differential. We help you turn that negative into a positive differential.
We use the positive differential to address paying off debts that you may have and to save money.
When debt is not in the picture, we help you setup and dedicate a bank account that will be used exclusively for saving money toward a future home purchase.
This is where you make a commitment to save money into a savings account at your bank.
Every so often we will ask that you provide bank statements showing the balance of your savings account. The balance should increase each month at about the same rate and amount as the previous month. We need to see consistency and so will the lender.
This savings strategies will get you where you need to be to qualify for a mortgage.
By the way, a positive by-product of this plan is that over-time you become conditioned to save your money.
After you complete the purchase of your home, we highly encourage you to continue saving money. We even offer advanced savings strategies for future purchases of vehicles, investment properties, assets and retirement investments.
This is where you make a commitment to save money into a savings account at your bank.
Every so often we will ask that you provide bank statements showing the balance of your savings account. The balance should increase each month at about the same rate and amount as the previous month. We need to see consistency and so will the lender.
This savings strategies will get you where you need to be to qualify for a mortgage.
By the way, a positive by-product of this plan is that over-time you become conditioned to save your money.
After you complete the purchase of your home, we highly encourage you to continue saving money. We even offer advanced savings strategies for future purchases of vehicles, investment properties, assets and retirement investments.