For a really long time, I paid for everything in cash. I mean errythang. I had one credit card that had a very low limit and I never, ever used it. It was exclusively for things like a car rental where I needed a credit card for a deposit, or emergencies. Even then, I still paid for my car rentals in cash and thankfully, never needed the card for an emergency.
Life was pretty good, going on like this for years and years. I want to say I was in this cash only mode for about 6 or 8 years. And then something happened – I started growing up. I wanted to buy new things. Expensive things. No, not a designer bag or pricey shoes – I still budgeted cash for those purchases. I wanted to buy a new car. And I decided that I wasn’t satisfied living in an apartment any longer. I wanted a home I could call my own.
Unfortunately, I would soon learn that my cash only lifestyle was going to cramp my style. Instead of doing things the right way, I was actually hurting my credit. You see, the only thing I had that was semi-recent was paying off my car. And everything else was radio silence. I would never get a home loan this way!
Or so I thought. With the assistance of Capital One Home Loans Online Neighborhood, I started finding out what I needed to do. They have a plethora of information that’s geared towards the first time buyer. Information like
- How much money you need for a down payment.
- What kind of documentation you’ll need when you apply for a loan.
- What do the different types of loans mean?
- How do I know which type of loan is right for me?
- How to find your dream home.
There’s really so much information here, and it’s put into simple terms that we can all understand. It’s not banking jargon that makes your eyes glaze over. Capital One’s goal is help first-time homebuyers understand how the home loan process works.
Before you know it, you’ll become the savviest homeowners on the block. For me, personally, just a few tweaks in my lifestyle have put me on the fast track to home ownership.
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.