Dear John Smith,
Thinking about buying a home in 2017? December is the perfect time to gear up for your house hunt. I’ve compiled a list of steps to help you get prepared, stay ahead of the curve, and get ready to hit the ground running in the new year.
1. Check Your Credit Score
Lenders look at your credit score to help determine what kind of home loan will be the best solution for your financial situation. Having a good credit score is important and can be a big factor in the type of home loan you’ll qualify for. Knowing your credit score matters. Learn More
2. Avoid Opening New Credit Cards
The holidays are filled with temptations – one being enticing store credit card offers. However, opening new lines of credit right before you start the home buying process could potentially hurt your chances of getting a mortgage or getting a better interest rate on a home loan. What could save you a few dollars now, could wind up costing you much more in the long run.
3. Ask for Financial Gifts This Holiday Season
It’s no secret that buying a home is costly. Not only do you have to consider a down payment, but you have to keep many other expenses in mind, like costs for closing, moving, and unexpected repairs. Starting a “Dream Home” fund could make a big difference when you're trying to cover the cost of your move.
4. Get Your Documents Ready
If you’re fortunate enough to have some down time this holiday season, start gathering up the important documents that you’ll need to apply for a home loan. These documents will be provided to your mortgage banker to help determine what kind of home loan you'll qualify for when you are ready to start your home buying journey.
If you have any questions about getting ready to buy a home in the new year, just give me a call. I'd love to help! Have a wonderful holiday season filled with much laughter and peace.
Miles D. Rusth