This is a guest post from our friend and fellow real estate professional, Tony Mariotti, founder of RubyOne Mortgage Company.
Ask a loan advisor or real estate agent what they find satisfying about their career, and many will say how rewarding it is to help people buy their first home. If you ask those same professionals about the biggest challenges for first time home buyers, and they’ll bring up two sticking points:
- Buyers often carry too much debt
- Buyers don’t have enough cash saved for a down payment.
These are two sides of the same coin. If you want to buy your first home, the goal is clear: get rid of debts that create a drag on your ability to save up for a down payment.
Mentally, we all know we shouldn’t spend more than we…