First Time Buyers; Be Prepared!
I have worked with several first time buyers and some second time home buyers who were confused about the process of buying a home and needed help navigating through the home buying process. I have compiled a list of actions to help buyers prepare for a smooth journey leading to the purchase of their dream home.
Check your credit worthiness.
Request a copy of your credit report, examine it for any errors and fix any problems that you discover. The free credit report does not tell you what your credit score is. You can get a free copy of your credit score; the web site that offers your score is www.freecreditscore.com (just be sure to cancel after receiving your report). The credit score is the basis a loan officer uses to determine the rates and interest on a mortgage. Keep in mind, a lender is going to look at more than just the score, but also the history and debt-to-income ratio of a potential buyer.
Determine how much house you can afford... read full post