Before You Even THINK About Planning To Buy A Home
To put yourself in the best possible position to buy a home, you have to plan ahead. Way ahead.
Too many would-be buyers choose a home, apply for a mortgage, and discover they either do not qualify for a loan, or they are only offered a much smaller mortgage than they wish, at a much higher interest rate than they want.
Sometime this happens because there is an issue with the buyers credit score or credit history. On other occasions the mortgage underwriter may have identified a risk factor that worries the lender.
This chapter will look at what you should and should not do now, and in the next few years, if you are planning to buy a home.
Step One: Check Your Credit Score – Today
Everyone planning to buy a home should check their credit score with the three major credit reporting agencies. Even if you have never had an issue or a problem with your credit, mistakes can be made, and you don’t want to find out your report has a mistake when you apply for a mortgage.
It can take weeks, even months, to iron out an issue or mistake on your credit report and in the meantime you may see your dream home become the home of another home hunter.
For more in depth information on…
- how to check your credit
- how to get a copy of your report
- how to determine if your credit score is good, bad, very bad, very good, or excellent
- why your credit score is important
- how to know if your credit score is good enough to purchase a house
- how your credit score will impact your interest rate
- how to improve your credit
Check out The Ultimate Homebuyer’s Handbook. Not only will this book answer all your credit report questions, but it will also walk you through the home buying process and answer ALL your questions about purchasing your next home! Buy your next home like the professionals!
