The Voice of Southwest Louisiana June 2019 Issue

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SWLA nonprofit Purchasing a Home Does Not Have to be Scary Homeownership is a big step with many variables to consider. Most of us will have to finance our home with a mortgage, and that can make the goal of purchasing a home seem daunting and unattainable, but just like any other goal approached with a solid plan of action, homeownership is achievable. Here are a few things to consider as you plan to purchase a home. 1. Know and understand your financial status A typical budget strategy suggested by many financial planners is an after-tax 50/30/20 split: 50% needs (housing, bills, food, car, health); 30% wants (shopping, dining out, hobbies); 20% savings & debt payment. It is important to know where you stand financially prior to purchasing a home. Be aware of your FICO credit score, know the percentage of your income needed to pay monthly debt, and what you need to have saved for a down payment. 2. Prioritize, and know the difference between, “needs” and “wants” It is easy to get caught up in the latest and greatest trends being showcased in magazines and home improvement programs, so define and list your needs and wants, determine the compromises you are willing to consider, and visit scheduled open house events to choose between the two. 3. Look at ALL costs associated with your monthly payment No more than 28% of your income should be allocated to home costs - including all costs associated with your home (mortgage payment, insurance, property taxes)! Consider utility costs, and saving for future repairs or changes. Be aware of your monthly finances, and budget accordingly, to ensure the home you are purchasing is the right home for your budget. 4. Ask questions You will not know everything, so work with someone you trust and feel comfortable asking questions with. Conduct your own research, take a home buyer education class, or visit with an entity that offers credit counseling services. Set yourself up early in the process for success! 5. Be patient Lenders need to know that you are reliable and stable. A consistent employment history is important, but no major bank changes, large purchases or large debt incurment prior to the home purchase are important factors, too. PROJECT BUILD A FUTURE Building Hope by Building Homes 2306 Third St. • Lake Charles, LA 70601 Through financial literacy classes and a home buyer counseling program, Project Build a Future has helped 100+ families in 18 years purchase a quality, affordable home. Our staff would be happy to speak with you to determine if and how you can achieve the goal of homeownership. Stop by our office, or call us today, for more information. Call For An Application: 337-439-7191 26 June 2019 WWW.THEVOICEOFSOUTHWESTLA.COM Volume 6 • Number 11
In Season Fresh Vegetables Pies and Cobblers Sweet & Regular Crust Paul’s Urban Gardening and Sweet Treats Catering Available Paul Charles (337) 707-1896 714 King Street Lake Charles, LA 70601 THE FOUNDATION HOUSE 720 Enterprise Blvd. | Lake Charles, LA 70601 Home Care Services Collision, Complete Paint Jobs, Towing Assistance, Limited lifetime Warranty on all Repairs We Hire Sitters www.blessedcare.biz Volume 6 • Number 11 WWW.THEVOICEOFSOUTHWESTLA.COM June 2019 27
Page 1 and 2: June 2019 Vol 6 No 11 Seven Days of
Page 3 and 4: editor’s Deep in the Wetlands is
Page 5 and 6: SWLA news Contributed Article SWLA
Page 7 and 8: SWLA health, wealth & wellness Info
Page 9 and 10: See more at https://www.chopchopfam
Page 11 and 12: changed our diapers, they don't nee
Page 13 and 14: Rufus and Johnson, brother, still e
Page 15 and 16: ave individuals who forged the path
Page 17 and 18: Helping families care for their lov
Page 19 and 20: Volume 6 • Number 11 WWW.THEVOICE
Page 21 and 22: Social media: This is not only a pr
Page 23 and 24: Roosevelt Tanner, Jr. and Roosevelt
Page 25: QWhat made the difference for you t

The Voice of Southwest Louisiana June 2019 Issue

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