Ready to buy a house in 2018? December is the perfect time to “warm up” for the house hunt so you can hit the ground running in the new year!
1. Check your credit score.
A credit score is a numerical representation of your credit report. FICO scores range from 300 to 850, and the higher your score, the better. Typically, you’ll get the best interest rate on a loan if your score is 740 and above.
2. Don’t open new credit cards. Now is not the time for opening a new credit card. A new credit card may hurt your chances of getting a mortgage, or at least of getting the best rate on a loan.
3. Don’t overspend during the holiday season. Keep your long term goal in mind.
3. Contact your personal and local realtor, Jacki.
I am knowledgeable and can assist you in reaching your goal of homeownership. Let me help you make a list of what you would like in your next home and then I can find it for you.
4. Speak with a mortgage lender.
I can refer you to a good mortgage lender. Look at what they offer, costs, points, and how long to close. Once you know how much home you can afford, I will perform your home search based on your preapproval amount or less.
5. Get preapproved
Your lender will pre-approve you based on some basic information you provide. The lender will need the following:
- Tax returns for the past two years
- W-2 forms for the past two years
- Last few Paycheck stubs
- Proof of mortgage or rent payments for the past year.
Follow these simple steps to home ownership!
I can guide you along your way!
Jacki Venezio Hogan
All Towne Realty