This post from Jonathan Smoke, chief economist at realtor.com, explains what Millenials can do to help themselves along the path to home ownership.   For example, a high debt burden will restrict their ability to qualify for a mortgage, and the amount they can get, so they need to limit their total debt payments (student loans, credit cards, car loans, etc.) to less than 15% of their income.   Smoke also covers the importance of improving their credit score, saving as much as they can for a down payment and creating an emergency fund for unexpected bills. To read more click here.
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  We are sometimes enthralled by the presentation of a property, but ignoring the things we cannot see or overlooking obvious problems and risks can lead to disastrous consequences. To the extent possible, put your emotions aside and make buying property a business decision based facts and data.   Getting Too Attached To A Property   Impulse decisions in real estate can cost major dollars and can have life altering effects. If you fall in love with a house, you may be tempted to waive conditions or pay more than planned in the rush to close the deal. The problem is,
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  This homeownership.ca post tells why an understanding of underwriting is a key advantage for home buyers seeking a mortgage.  Work with a mortgage professional to get pre-approved for a mortgage so you know your price range and can make an offer instantly.  The pre-approval process determines the size of mortgage and type of home you can afford.  You will need to assemble your credit report and other documentation (financial and employment history, creditworthiness, income) the lender or mortgage insurer needs to process the application.  The documentation required varies depending on individual circumstances.  For example, self-employed applicants should be prepared
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