So, you’ve decided it’s time to begin the hunt for a new home? That’s great news! You’re about to embark on an amazing journey for you and your family. New neighborhood means new neighbors, meeting new friends, maybe a new school for the kids… There will be new places to explore like restaurants, shops, all kinds of local points of interest… This is such an exciting time!
There are a few things you should do before your home buying adventure begins. The most important one is getting pre-qualified for a home loan. In today’s low inventory market, it is so important to be pre-qualified before the home search begins. This provides an opportunity to act quickly when that “Perfect” home comes along and lets the Seller know you are serious about your offer.
Here are other tips before starting your home search:
- Check Your Credit; Your credit score is one of the most important things when applying for the home loan. Payoff any credit cards, clean up any derogatory items and wait until those items clear.
- Organize Your Documents; You might as well get used to it, there is a lot of paperwork when buying a home. Even with electronic documents and signatures, you will have a bit of paper at the end of the process. Most import is your tax returns and proof of income (i.e. paystubs).
- Verify Your Downpayment; If you have your down payment in a savings account, great. If you are liquidating stocks, check with your stockbroker to verify the time assets are available. If you are receiving a portion of your down payment as a gift, have an idea of how the gift will be transferred to you.
That is the basic checklist. Certainly, give me a call and I am more than happy to help should you need it. Now, are you ready to see what home are for sale now? Click on the link below,