Searching new homes for
your family can be an intimidating process. Here are three tips to streamline
this endeavor and to help make your experience a pleasant one.
1. Get your financial house in order
2. Get pre-qualified When you get pre-qualified, you don’t have to guess how
much house you can afford. You can hone in on the details of finding your dream
home. You also boost your bargaining power considerably. Whom do you think the
seller is going to favor, the buyer who says he has the money or the one who
can prove it?
Your credit score plays a key role in the mortgage-approval process. It pays to
take a good look at your credit reports and correct any errors before you begin
searching for a new home. A clean financial record and a high score will help
ensure you get the best possible interest rate and loan terms.
Pay down debt and don’t incur any new debt before you shop for a home as
mortgage terms are based on debt-to-income ratios.
Create a household budget and include categories such as repairs and
maintenance and decorating for your new situation.