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Can I Be a Home Owner?

Are you ready to be a homeowner?

Ask yourself the following questions.

If you answer "yes" to most of the questions, you're probably ready to buy a home. If you answer "no," concentrate on strengthening these areas or take a homeownership education class in your area.

• Do I have a continuous, reliable source of income?
• Have I been employed continuously for the last 2 years even if it has not been in the same job, and is it likely to continue?
• Do I have a checking and/or savings account established with a financial institution or do I keep accurate records of paying my bills regularly and on time?
• Do I file an income tax return with the IRS each year?
• Do I pay my bills on time?
• Is my total debt manageable?
• Are all of my regular financial obligations accounted for in my total debt?
• Do I have some money saved for a down payment?
• Do I have some money saved for closing costs?
• Can I afford both the mortgage and other expenses?
• Do I have time to take care of a house?
• Do I have time to devote to buying a home right now?
• Do I have money to cover moving expenses?
• If I've experienced financial difficulties in the past, can I prove that it was due to events beyond my control?