--- title: "ON KNWA: 2020 GOALS OF HOMEOWNERSHIP" description: It’s a new year and many of us are working on self improvement. Financial independence is one way many can improve their lives in 2020. image: https://blog.blrmortgage.com/hubfs/KNWA%2011620%20Pic%202-1.png --- ![blrm_logo-166x45.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blrm_logo-166x45.png?width=166&name=blrm_logo-166x45.png "blrm_logo-166x45.png") ![logo-rock-mortgage.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/logo-rock-mortgage.png?width=180&name=logo-rock-mortgage.png "logo-rock-mortgage.png") ![blog-bg.jpg](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blog-bg.jpg?width=1600&name=blog-bg.jpg "blog-bg.jpg") # NEWS # ON KNWA: 2020 GOALS OF HOMEOWNERSHIP Posted by [Blake Montgomery](https://blog.blrmortgage.com/mortgage-newblog/author/blake-montgomery) on Jan 16, 2020 3:08:23 PM ![Blake Montgomery](https://app.hubspot.com/settings/avatar/0d0a314baa0a411b65de2e97005b52d9) - [Tweet](https://twitter.com/share)   Watch Chad, Jason and Jaclyn to learn more                   From the January KNWA interview with Chad Hartsfield, Jason Suel and Jaclyn House No Headphones...No Problem.  See below for transcript. It's the new year and many of us of course aren't working on self-improvement as a way to start off the year on a positive note now financial independence could be one of those different ways that you can do just that we've got Chad Hartsfield from the branch manager from Rock Mortgage here with five five important things you need to know if home ownership is on your list for 2020 hey Chad how are you guys yeah great thanks for being here Chad thank you here's something I'm curious about when people begin to plan for home ownership I think I wish I would have planned a little more but what what are some things that homebuyers should consider well if there are New Year's resolution is to get into that new home I like to tell people is create and a budget and stick within that budget yes yes so lenders like to look at take your gross monthly income and then take 28 percent of that for your monthly housing payment okay that's interesting yeah here's something I'm curious about too is your credit score you know we hear a lot of things I think there's a lot of myths about credit scores but there's also a lot of truth about credit scores oh yeah does your credit score actually affect your ability to purchase a home yes it does most definitely does not only does it affect your ability to buy a home it affects the interest rate that you pay on that loan it's we have a lot of people come in and sit down as we plan out them buying a new home and say there are seven hundred credit score yeah well we can show them how to get above that 740 credit score to get the best interest rate and terms that's in the market is that kind of a magic number that you're looking for of 740 yes okay a question I'm wondering too if people are like really dead sitting there at that 700 and you're like well we recommend maybe you did a 740 but they are like set at that 700 I mean is it okay to go ahead and almost do the house at that point yeah what we do is we set them down and show them where they are now okay and where they can be and then how long it would take sure what it takes 60 days would it take six months so we like to go step by step with them to see if they get it at home feel comfortable maybe in that payment now okay that rate yeah I like that yeah and one of the tips may be do you have the people who are looking to purchase a home in this year twenty twenty twenty twenty come in and get pre-qualified okay I understand their options a lot of people my parents specifically said put 20% down put 20% down okay that is not the case okay you can of course but there's programs for 0% down like VA and SDA and up to five percent on conventional loans right we have talked about that before the 20 percent is very scary oh yes you know for some people so we have talked previously about you know kind of what you may be looking at if you want to purchase a home yeah yeah and there's different mortgage types out there it seems so what are the best way for homebuyers to figure out what is the right fit for them uh to get pre-qualified up first of all yeah man sit down or give us a call we can go step-by-step see what they're pre-qualified for that way they're comfortable and reduces the stress when they're going out and buying a home if they're gonna put three percent down five percent ten percent and what want them feel comfortable it reduces the stress and then the spouses or not and it also helps the realtor find that perfect home for them that's great Chad thank you so much and I know that you're out there on social media easy to find you just need a search ROC mortgage you've got some information on your screen right there Fayetteville and Bentonville offices Chad thank you so much.l Topics: [mortgage](https://blog.blrmortgage.com/mortgage-newblog/topic/mortgage) [On Time Closing](https://blog.blrmortgage.com/mortgage-newblog/topic/on-time-closing) [Home Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/home-loans) [Low Down Payment](https://blog.blrmortgage.com/mortgage-newblog/topic/low-down-payment) [Rent or Buy](https://blog.blrmortgage.com/mortgage-newblog/topic/rent-or-buy) [USDA Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/usda-loans) ### Subscribe to Email ### Recent Posts ### Posts by Topic - 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