I stopped in at my bank as I literally drive right by on my way home, and paid off my monthly credit card statement in full, as I always do. Great, done.
While I was there, I also inquired about better rates on savings. Since I am already an established customer, and have $X in the bank, I am eligible for an increase on my savings interest. Not much to write about, but it's something.
I also asked about getting pre-qualified for a mortgage. I've researched this myself, but wanted to confirm that my numbers were correct so as to be able to clearly see what I am eligible to get for a mortgage, based on my credit history and income. Luckily, I have an excellent credit score; it was pulled when the realtor ran a credit check for my application to rent this home.
Not surprised to learn that I am eligible to look at and qualify for homes $150,000 over what I am comfortable in owning. I know what my bottom line figure needs to be, in order to meet all of my financial obligations and goals, and lead a decent lifestyle, although remaining frugal in the process. I have a set figure of how much I need my mortgage payment to be when all is said and done.
I have 83% of the amount that I will need for a 20% down payment towards a home in the price range that I feel comfortable with. I know what type of house I am looking for as well. Question is: which town? I am on the path to home ownership once again, and I do see the light at the end of the tunnel. I can see that if I stay the course, the end of renting is near, our next "forever home" is in my sights. Continuing as I have and plan to, I will have the funds necessary and most likely more, by this time next year, when I anticipate getting back into the real estate market.