It does not matter if you are a first time home buyer or a home buyer making a home purchase after bankruptcy, these tips can help you be organized for a successful purchase. If you are organized, you can not only find the home of your dreams but move into this purchase with confidence.
- Decide how much you can spend realistically. Take into consideration your income, expenses and possible future experiences.
- Check your credit reports to find out where you stand. Look for errors and correct them now so you are ready when you go to apply for a home loan.
- Shop for a lender. Look for the best rates and terms that will work for you. Find out what closing costs may be involved with any lender (they can generally give you an estimate.)
- See if you can get pre-approved for a mortgage. This will allow you to know what your budget is and what you can expect to pay as a down payment.
- Find a real estate agent that can help you to find a home that meets your needs. Find someone you feel confident in and can partner with you during this process.
- Make a list of features you would like in a home and research neighborhoods that you would like. Think about crime rates, school and local services as much as you would when you are deciding if you wanted 3 bedrooms or 4 bedrooms. These things count. This is where your family will live for a long time.
- Go house hunting and when you find one, make an offer that is contingent on the results of a full home inspection.
- If you are worried about any terms of your home purchase, consult a lawyer. This way you can go confidently into your new home purchase!
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