Information is for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author.
Before you start looking for a home, get pre-qualified. This way, you'll know what you can afford and can shop within your budget. Plus, you'll be a "serious" buyer to a seller. Discuss loan options with your lender and start thinking about how you plan to finance your home.
Hire a real estate agent
You can do a lot of searching on your own, but it's still essential to have a real estate agent help you with the home buying process. Your agent can help you find a home you like, within your budget, and negotiate the best deal for you.
Find out your credit score
Your credit score is key to getting the best loan possible. By law, you get one free credit report each year by going to annualcreditreport.com
. Take advantage of this free offer and review your score. Make sure everything is in order. If your score is lower than anticipated, talk to your lender about how you can improve it before buying your home. There are things you can do to change your score in as little as three to six months. The better your score, the more options you'll have.
Save for your down payment
The type of loan you choose determines the amount you need to save for a down payment.
Get your documents in order
If you know you're ready to buy within the next three to six months, start a file to use for documentation purposes. Ask your lender what you'll need for the loan and start preparing now. Some of these documents include paycheck stubs, W-2s or I-9 tax forms, bank account statements, investment statements, details on current real estate holdings, or tax returns. Keep this information updated for your lender when you're ready to buy.
Buying a home takes time, but the process is easy when you're prepared. To learn more about our mortgage process, click here
, or give us a call at 845.463.3011. We'll walk you through everything you'll need to get into your home as quickly as possible.