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Bristol financial planners can help guide you through that tricky world they call real estate. Buying a home in CT can be a tricky process. Whether you are saving for your first home or buying your seventh in Connecticut, consult with your Bristol financial planner to make sure your finances are in order.

How Planners Can Help

Everyone needs money to buy a home in CT and financial planners can help you to prepare for the expense. Whether you need to secure a mortgage or are paying cash, you've got to bring something to the table. Speaking to a Bristol financial planner before you begin the home buying process in Bristol will allow you to sort out your affairs before you get too deep in the Connecticut financial planning details of the home buying process.

Once you have found the home of your dreams in CT, you'll need to pay for it. You can either pay cash or secure financing through a mortgage. Your Bristol financial planner will advise you how to pay for your home in the way that is the most financially beneficial to you.

In some cases, you may decide to build your dream home. That is a challenge fraught with issues all its own. From finding a Connecticut builder and land to securing permits and financing, if necessary, building from scratch is an expensive proposition and one that is best run by your Bristol financial planner.

After You've Bought a Home

When you own a home, there's no landlord that you can call should something go wrong. And something always goes wrong. Whether its a plumber on Christmas Day or a broken washing machine when you have a house full of guests, home ownership is another animal. Making sure you have a healthy emergency fund to dip into to pay for repairs is a very important part of home ownership and one that financial planners can help you to prepare for.

Once you've bought a home, you may decide its no longer the home of your dreams. Maybe your family has expanded and now you need more room. You could remodel your home to fit your current needs. Once you have built equity in your home, you may be able to secure a home equity loan and borrow against the equity in your home.

While loans are never ideal, sometimes they are necessary. A home equity loan needn't only be used for home repairs or remodels. You can borrow money against the equity in your home to pay down debts or for educational expenses.

Your home is not a cash machine. If you are thinking about taking out a home equity loan, speak to your Bristol financial planner first. He may be able to come up with a plan that will allow you to pay for the improvements you desire without taking out a loan against your equity.

Once you have owned your home for awhile, there is always the option to refinance your current loan. Essentially, you are seeking a new loan on your Bristol home. Bristol financial planners may have different financial planner agents that they work closely with in different areas to get you the best interest rate on your refinance. You may be able to save money on your monthly payments by refinancing your Bristol home.

When you refinance in Bristol, it will be a similar process to securing a home loan for your first home. You will need to prove that you and whoever else will be on the loan have been gainfully employed for the past two years. Steady employment is key to securing a refinanced loan.

Your credit history will also come into play if you are trying to refinance your home loan. If there are any credit issues, Bristol financial planners can develop a plan to get your credit card debt under control prior to you refinancing. Having a lower score can impede your changes of getting a new loan in Bristol.

Once all of your refinance documents are in order, it'll be time to close on your new home loan. You may have to bring closing costs to the table. If you have prepared for the refinance and the closing with financial planners, you should have the money ready to go.

Owning and maintaining a home is expensive. The payoff is that its something that is yours and the investment is better than renting. Financial planners can help you to achieve and maintain the goal of home ownership.

Bristol financial planners are your biggest allies when it comes to real estate. They can help you get your finances in order so that there is no problem when it comes times for you to buy, sell or refinance a home. Financial planners in Bristol look out for their clients and their real estate transactions.

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Financial Planners in Bristol

Todd Warner
Todd Warner
22 Westminster Drive
West Hartford, CT 06107

Rob Hoynes, ChFC
Rob Hoynes, ChFC
615 West Johnson Ave
Suite 202A
Cheshire, CT 06410

Jim Furlong
Jim Furlong
601 North Main Street
East Longmeadow, MA 01028

This website provides information related to the subjects covered. Before making any financial or legal decisions, a professional should be consulted.