How To Prepare Yourself To Buy A Home

Dated: 12/11/2017

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How To Prepare Yourself To Buy A Home 

Want to buy a home soon? The home buying process can be scary for many home buyers, but it doesn't have to be. With proper preparation you can make the process easy and stress free. Here are some tips that will prepare you to buy one of your biggest assets. 


1. Strengthen/Build Credit 

Check your credit report before you start house hunting so you know what's in your credit history. You have credit reports with the three major credit bureaus and you should check all three of your credit reports since the lender could check any of them. If you spot any inaccurate information, now's the time to use the credit report dispute process to have the errors removed. The less negative information you have on your credit report, the better your chance at getting approved for an mortgage.


2. Find a Good Realtor

Use a realtor that will negotiate for the best terms that will benefit you the most. Make sure your agent listens to your wants and needs carefully and works in the best interest of you. He or She may make recommendations or explain the market to help you find a home that suits your needs and that you can afford. 


3. Apply for a Mortgage

Start shopping around for the best rates. Once you get approved for a mortgage you will know your max budget. This helps because you can narrow down your options and if you find a house you like, you can submit and offer with your pre-approval letter.


4. Save for down-payment and closing costs

It is always best to have the money for the down payment and closing costs before beginning your search. This makes this part of the process stress and worry free because you know you have it. Set a little bit aside every month for the downpayment. 


5.  Avoid opening new credit cards

As tempting as it can be sometimes, try not to open up any new lines of credit. This can lower credit and put a halt in the mortgage approval. Having a new home is better than saving 20% at your favorite department store. 


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