Finding that perfect home, qualifying for the loan, and then purchasing can be quite the process. It makes sense that buying a home would be a process since it is one of the biggest decisions and investments you are likely to make in your life. The good news is that you can set yourself up to succeed when you go through the process of buying a home. There are a few things that everyone should do when they buy a house. Here are three tips that can make your home buying experience an enjoyable one:
You may have heard not to check your credit because it will hurt your credit. Well, you can actually check your credit score one time a year for free, and as long as you are not applying for credit or a loan it will not hurt your score. This is important because you know that your credit score will be checked when you buy a home. Check your credit score months or even a year before you start looking at houses. You want to do this in advance so you give yourself enough time to work on your credit if your score is not where it needs to be. The better your score the more likely you are to qualify for the loan, but also the more likely to get a good interest rate.
Whether you are going through a bank or a mortgage company, you will want to talk to a lender before you start shopping around for a home. Too many people find the home and then try to qualify for the loan, only to find out they do not qualify for that amount of money. So, pre-qualify so you know your budget and your max. This gives you the ability to narrow your home search and gives you leverage when you start putting in offers on homes. In order to pre-qualify, you will need your last two tax returns, pay stubs from a month, and some personal information. With this information, the lender will know how large a loan you qualify for.
Real Estate Agent
There are too many benefits of a real estate agent to try and find the home on your own. Let a licensed real estate agent help you with your house search. A good real estate agent will have all the listings in the area, know the history of the market, and then also help you with all of that nasty paperwork. It is a good situation to be in.
Contact a realtor that specializes in new homes for sale for more information and assistance.