The year 2020 was a tough one for everyone. From the very rich to the very poor, the very healthy to the very sick; everyone’s plans were put on hold as we grappled with COVID-19. But now that we are starting to emerge from the dark tunnel that was last year, we can finally start to focus once again on our dreams.

If you have plans to purchase your dream home this year, you can still do it! The following guide will provide you with some tips to help you navigate the tricky world in which we now find ourselves so that you can purchase the home you’ve always wanted. Also, if you find yourself becoming overwhelmed by the process, a good mortgage professional can help you along the way.

Start Saving for Your Down Payment ASAP

Your goal should generally be to save enough to make a down payment of 20% of your home’s value. While there is some wiggle room based on an individual’s financial status, this is fairly consistent advice that mortgage professionals offer. Lenders look much more favorably on borrowers who can have these funds ready when it comes time to complete a mortgage application.

Set a Monthly Budget

As you get closer and closer to applying for your mortgage, you’ll want to start tightening up your budget where you can. You’ll need to ensure that you can make your mortgage payments each month, on time. This may mean limiting or modifying your monthly spending on more frivolous activities like going out to dinner or taking expensive trips.

However, it’s important to note that this does not imply that you should eliminate everything that makes you happy in life just to save more money for your mortgage payments. You deserve to treat yourself and your family now and then. This tip simply suggests that you should see where you can limit some spending so that you won’t run into any trouble with regards to your monthly mortgage commitments.

Consolidate Your Documents

Applying for a mortgage requires tons of paperwork and you’ll need to have all of your ducks in a row, so to speak. Your pay stubs, tax information, and any other pertinent information should be kept in a safe, dedicated space to make sure it’s ready when you start your mortgage application process.

Get Pre-Approved

To get pre-approved, you need only call a broker and start the process. It takes no more than 10 minutes and can be completed from the comfort of your own home.

Partner with a Mortgage Expert

A qualified mortgage professional can make every step listed a breeze. These dedicated experts can advise you on all the best steps to ensure that you are in your dream home with as little stress as possible. The professionals at Rex Homes have also provided a helpful post on their blog here:


If you want to buy your dream home, now is the time! There is no telling what the future holds, so if you have been wanting to move, there is no better year than 2021. Call a mortgage professional today to start the process.