Worried about affording a home? You're not alone. Homeownership may seem out of reach, but with the right strategies, you can turn that dream into a reality. Here are 5 effective approaches to help you turn your homeownership dreams into reality:

1. Don't go at it alone: Combine your purchasing power with a coborrower's. It's common for couples to borrow together, yet it's possible to have "non-occupant co-borrowers" too. You can even have more than 2 coborrowers on one mortgage loan.

2. Consider a Hybrid: Increase your buying power with the lower starting rate of a mixed loan program. You'll have a fixed rate and payment for 3 to 10 years before transitioning to an adjustable-rate loan. If you sell or refinance before the fixed period ends, you can avoid paying potentially higher adjustable rates.

3. Go Multi: A multi-family home comes with built-in additional income that can help you better manage your payments and increase your buying power. Some loan programs do not allow the inclusion of the rental income to qualify, so discuss the possibility with us before you decide if it's right for you.

4. Bid Yourself ADU: Just like a multi-family home, a property with a second livable unit (Accessory Dwelling Unit or ADU) can potentially help you qualify for a larger loan.

5. Reduce Your Rate: Seller paid buydowns, paying points, or alternate loan programs can all provide a lower rate.

Taking the first step towards homeownership is easier when you have the right guidance and strategies. By exploring these options, you can enhance your buying power and make homeownership more attainable. Remember, a consultation with us is the best way to determine a comfortable price range for your unique situation. Reach out when you're ready, and we'll be happy to help you find the perfect home within your budget. Your dream home is closer than you think!

You can also get started by getting pre-approved online today!