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Local lenders and realtors at Capital Con lay out steps from renting to owning
Summary
Lenders, realtors and the City of Little Rock’s community development manager advised renters and first-time buyers at Capital Con on budgeting, credit readiness and practical steps before closing, emphasizing written budgets, lender meetings and avoiding new credit activity ahead of closing.
At Capital Con in downtown Little Rock, a panel of local lenders, real-estate brokers and a city official offered practical advice to renters and prospective first-time buyers on how to move from renting to homeownership.
Shannon Smith, principal broker of SSD Realty Group LLC and the panel’s moderator, opened the session by framing homeownership as a path to generational wealth and said the panel would focus on ‘the journey from rent to real estate’ and the concrete steps residents should take to prepare. Tracy, the City of Little Rock’s community development manager, said homeownership “adds to your net worth” and creates collateral that can be passed to future generations.
Thomas Williams Jr., a CRA mortgage loan officer at U.S. Bank, emphasized budgeting as a foundation: “Start with a budget,” he said,…
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