Practical New Year's resolutions for the homebuyer
If you're looking to buy a home in 2011, there are some things you should make sure to do:
1) Research your credit score and history: lenders will check your credit to determine if you will receive a funded mortgage. You'll want to know this info ahead of time. You can access your credit info at AnnualCreditReport.com.
2) Practice good credit behavior: try to achieve the highest credit score as possible, pay your bills on time, maintain at least 4 open and active lines of credit. To find out more, go to: MyFico.com.
3) Shop for the best loan: talk to at least 4 to 5 lenders before signing an application with one. Use the info from each to negotiate with the others. It is OK to haggle with the lender.
4) Develop a great home buying team: no matter what type of property you are looking for, having the right people working for you is paramount. The right team should include a great: real estate agent, mortgage lender, real estate attorney, tax preparer and inspector.
Good luck and happy home shopping!
Comments(3)