Tips for First Time HomeBuyers

Tips for First time home buyers: If you are a first time home buyer thinking about buying a home, some easy tips for you to keep in mind. 1) Get your credit checked and determine your credit score. Many times buyers are out and about looking yet have no idea that there is some work to be done to clean up their credit. 2) Develop a savings pattern: Save, save, save, Have some funds in the bank to contribute to your down payment and closing costsis favorable to a lender. Having a pattern of saving money shows the lender your are financially responsible 3) Keep consistency in your employment. Normally a 2 year history of consistent employment is the guideline for lenders,any gaps in employment need to be addressed. What the lender is looking for is stability of income and the ability and willingness of the buyer to repay the debt. Like I always say, take the view from the lenders side (after all, they have the money). They want to lend, but don't want to make a loan to someone who will have a hard time making the payments. Your credit payment history, job stability and financial patterns all play a significant role is your loan approval. Bottom line. Be responsible and accountable. If you have questions as a home buyer, ask me your questions@ http://www.facebook.com/kvatsula.