Episode 4

Getting Financially Ready to Buy a Home

Published on: 22nd June, 2023

So I asked Tanya here today to talk a little bit about getting you ready to buy a home. What does it take financially? She's not a lender. So we'll talk to a lender in a future episode. But preparing yourself to get ready is all about credit scores, money, and all that kind of stuff that’s important.

8:53 - 5 Ways That You Can Help Your Credit

16:48 - Adjustable Rate Mortgage and the 2008 Crash

20:43 - Importance of Cash

I think owning a house is a wonderful opportunity. It creates a sense of purpose and value for you as an individual, maybe because of the goal that you have. It typically starts with cash flow.

So how much am I making, what are my bills, how much extra do I have, and could I afford the payment that is being proposed for me? Because I would say that it's very difficult to be something that they call a "house pour," where you take on a large payment of a house when perhaps your income is not quite ready for that. So you just need to think about it. There is a road to navigate, and I am ready. Are we financially ready? And then, when we are asking questions and getting good advice, I think it is very important. Finding someone that you trust more than your mom, your dad, or your brother and that you think will also give you unbiased advice is a good idea. I think it is a good idea to, in regards to Trivent, help people with their finances so that they can hopefully live a fulfilling and stress-free life. Maybe not free, but overall, I feel like when our finances are in order, it can also trickle down and help us in other areas of our lives. It can allow you to be more generous. So that is my goal and my overall initiative when it comes to helping people understand and navigate the road to their financial future.

If you don't put 20% down on a house, you typically have to pay something called private mortgage insurance. And so just doing a little planning, having a little cash flow, setting that goal, or working a little extra now so that you have more cash for later can also be beneficial.

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About the Podcast

Get Me Ready To Buy
Buy Your Home With Confidence
Get me ready to buy a house.

About your host

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Jeff Jones

Jeff Jones is a Jesus-following husband, father, G-Paw, son, minister, leader, entrepreneur, coach, and REALTOR®. His passion is serving others by guiding them to be successful. Jeff and Dori married in 1985. They have two daughters, two sons-in-law, and one granddaughter. He graduated from the University of Memphis with a degree in business administration., and Southwestern Baptist Theological Seminary. For 33 years, Jeff served churches in Tennessee, Texas, Alabama, Arkansas, Louisiana, and Mississippi; the Arkansas Baptist State Convention; and as a trainer/consultant for churches, associations, state conventions, and LifeWay.

Jeff became a REALTOR® in 2017. Most recently, Jeff became a Certified Success™ Coach. Currently, Jeff serves on the board of the Southaven Chamber of Commerce where he is an ambassador and chair of the Membership Committee and on the board of the Northwest Mississippi REALTORS® where he chairs the Community Outreach Committee. Jeff is also a trainer for the Mississippi Association of REALTORS®.

He loves to work with his hands, whether it is a construction, landscape, or garden project. Jeff is most known for his fishing videos where he challenges others to “get a hook wet” as he enjoys doing in the pond on his land.