Buyers, prepare yourself with this information.

Buyers, planning to buy a home, prepare your self with this information.

10 Steps to prepare for Homeownership.

1.  Decide how much home you can afford. Generally, you can afford a home equal in vlue to between two and three times your gross income.
2. Develop a wish list of what kind of home you like to have. Then priortize the features on your list.
3. Select the area you like to live. Consider schools, recreational facilities, area expansion plans, and safety.
4. Determine if you have enough saved to cover your down payment and closing cost. Closing cost, including taxes, attorney's fee, and transfer fees average between 2 and 7 percent of the home price.
5. Get your credit in order.
6. Determine how large a mortgage you can qualify for.
7. Organize all the documentation a lender will need to pre approve you for a loan.
8. Explore different loans options and decide what's best for you.
9. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.
10. CAL ME, I can help you through the process.

Just a gift of knowledge how the credit scoring model works.....

The 5 DO'S for credit users.

1. Check every 2-3 months online (does not effect score)
2. Pay bills on time and even early. Paying early gives extra credit.
3. Keep balances on revolving debt under 30%
4. Use active credit cards at least once a month
5. Get past due accounts current and keep current.

The 5 DON'TS for credit users.

1. Don't close any open accounts.
2. Don't go over balance limit's this is a double hit.
3. Don't reply to pre approval marketing. By signing your authorizing them to pull your credit.
4. Don't consolidate credit cards, Keep 30% rule.
5. Don't pay off judgments/collections during the process of applying for the loan.