|
|
| If you want to buy now you need to....... |
Know your credit score as it determines what interest rate a lender will charge you. If you have a high credit score you can save thousands of dollars over the life of the loan. If your credit score is low then you need to work at bringing up the score. There are ways to do it and remember that if you have paid off a credit card do not cancel the card as that will hurt your credit score. Work at paying down your credit-card bills. Lenders would like to see that your debt doesn´t exceed 30% of your available credit. You can also write an explanation on your credit report on any item that shows up and have that explanation put on all three credit reporting agencies. This way when you credit is pulled there will be an explanation already there for the lender that pulls the report. |
Get Pre Qualified before you look at homes. There is nothing worse than finding a home you love only to find out you don´t qualify for a loan on it. You can pre qualify over the phone with most lenders. They will want to know what you have as income every month, which will include wages, child support, court ordered payments, retirement plans, any income that you get every month. |
Buy what you can afford you don´t want to spend more than a third of your total pre-tax income on your housing costs which would be mortgage, insurance, maintenance, and property tax. Maintenance on your home you want to figure about 1% of the value of the home each year. Lenders would like to see 20% down on a home, there ARE programs with lenders that will get you into the home of your dreams with a lot less down and there is also the possibility of financing into the mortgage, some of your closing costs. Just know that less you put down the more you´ll pay in interest and fees. |
Get the Best Price when buying a home. Our market values have dropped and there are numerous great buys out there. Call me and I´ll take you through the steps to get the home that fits your needs at a price you can afford. |
|
|
|
|
|
|
|
|
