National Home Ownership Month: Automate Savings, Compare Lenders And More Tips For Aspiring Homeowners

Meet Wendy Wiltz, the New Orleans realtor who’s on a mission to empower and encourage the Black community to own and invest in real estate.

Fresh off the heels of inking a travel television series on Tubi and Xumo that follows her global tour of real estate properties, the “Invest Away” host is focused on educating African Americans on the power of ownership in real estate.

With real estate serving as a natural passion for Wiltz, the former model made a career shift to generate a second source of income that didn’t demand too much of her time or physical presence. Since making the shift, Wiltz uses her platform to promote ownership and share the industry keys that are normally gatekept.

As part of her mission, and in honor of National Home Ownership Month, Wendy Wiltz shared five resourceful tips for aspiring homeowners.

1. Automate Savings: Set up an automatic deposit into a separate account and/or consider a money-saving app such as Albert which automates savings based on your income and bills.

2. Strive For the Best Credit Score Possible: Higher credit scores obtain a better interest rate saving thousands in the long run and allowing you to spend more on your home and less on interest payments. Reach out to a credit advisor to determine if there is room for improvement.

3. Speak to a Realtor ASAP: The earlier this is done, the sooner you’ll become familiar with the process and can get answers to your questions. Don’t assume what you don’t know, get the facts. Most Realtors offer buyer and seller consultations completely free and can help guide you in the right direction.

4. Don’t Be Afraid to Compare Lending Options: Not all lenders have the same rates and/or fees. Shopping around for the best mortgage within a 45-day timeframe will result in one inquiry on your credit. This is a big purchase and it’s significant to get the best deal.

5. You Don’t Have to Spend the Entire Pre-Qualification Amount: Don’t be afraid to set your own limits. Let your lender know what you are comfortable spending each month. Avoid being house broke! There will be other things in life you’ll want to do with your family aside from paying a mortgage.

6. Consider Your Day-To-Day Activities in Terms of Location. Purchasing a home convenient to your day-to-day activities can make life easier. For example, don’t hesitate to take the drive from home to your workplace before making the commitment.