I get a lot of questions from clients wondering what they can do to prepare to purchase a home a year or more down the road.
Here are the apps I tend to recommend to my clients!
1.Clarity Money! – This wonderful app helps us save our $$ by identifying waste. This free app does this by helping identify subscriptions you aren’t using or just don’t need. Another great perk is that it helps you negotiate your monthly expenses down to a lower rate! Lastly, it helps you with accountability and ensure you stay on your budget! I love this!
2. Acorns! – I cannot overstate how much I love this one. Acorns helps you round up your purchases on your credit and debit cards that you link to the app. The differences that are rounded up to the nearest dollar are then transferred to your Acorns account. This account starts to work for you as it is invested into exchange traded funds. These funds are manageable as you can direct them to conservative or aggressive funds based on your comfort level.
3. Scoutmob – This app helps you identify local and regional deals for most major cities across the country. Yes, it is like Groupon or other local deals. However, I prefer this one more as it tends to search out more valuable information and greater savings. The more you save the more you have in assets and the easier it is to get a loan.
4. LifeLock – Your credit is key to getting a loan. Most loans would prefer to have your scores over 620. LifeLock is key to keeping an eye on your scores, fixing any credit dings, and monitoring any suspicious activity. For example, if someone were to set up a fraudulent car loan you could count on an almost immediate notification from the app. Please note there are several different membership programs so make sure pick up the one that is best for you. Credit is king when it comes to lending. Let’s keep that credit score up!
5. Mortgage Calculator – Most clients tend to be excited about purchasing or building a home. We get it. Mortgages just aren’t as pretty as that new kitchen you’ve been looking at. However, it is always best to check on your buying power before you go look at a home. Once you know what your monthly budget is with the help of your loan officer you can then go look at homes with confidence. With a mortgage calculator you can get a rough estimate of what your payment would be. We want you to know what you can buy before you go looking!
– Brandon Staples | Mortgage Consultant