Buying your home for the first time can be a bit intimidating. If you’re considering buying your home and feeling overwhelmed, you’re not alone. It’s one of life’s biggest stressors for a number of reasons. But if you do your research and a little bit of planning before you find the house of your dreams, you’ll find the process much easier.
One of the most important things you can do to prepare for buying your home is know your credit score. Many things are determined by your score, including interest rates for loans. The higher the score the lower the interest rate. If your credit score needs some help, don’t worry. There are things you can do to help increase your score. Finding a good financial advisor will help. And, if you have any questions, give me a call. I’ll walk you through the credit score maze and provide some recommendations.
Once you know your credit score, you should get pre-approved for a home loan. This is a great way to go because you’ll know what your buying range is. If you qualify for a home up to 200,000, it will help steer you away from homes over that price range. Knowing what you can spend will help make your search for a home more narrowed and refined.
Throughout the process, it’s important to not buy any large purchases until your home loan closes. You don’t want to take on any new debt such as opening a credit card or buying a new car. Demonstrating that you’re a good credit risk is key, especially when buying your home for the first time.
Whether you’re buying your home in the near future or a year down the road, I can help. Call Big Mike when you want insight into the East Valley real estate market. And when you want to find your own home-sweet-home.