Getting Ready to Buy a Home
When buying a home is 1-2 years away.
Check Your Credit Report
Mortgage lenders use your credit score and history from your credit report in order to determine whether or not you qualify for a mortgage loan. Your credit score also determines the interest rate for your loan. You should check your credit report on a regular basis to make sure all of the information reported by the three credit bureaus is shown correctly. There are many online websites where you can monitor your credit report. If you don’t currently have any credit, it will be hard to get a loan. Many people will open a credit card through their banking institution. Once the card has been received, they buy gas or groceries with it and pay it off each month. The better your credit score, the lower your interest rate will be.
If you have any delinquent accounts on your credit report, you should work with the creditor to bring your account up-to-date, offer a settlement, or pay it off in full. For any errors or discrepancies you find, you should send a letter or a claim form to the reporting credit bureau to dispute it.
You can do it!
Downsize Your Living Expenses
In order to purchase a new home, you will need to have money saved for the down payment, closing costs, and other expenses, such as moving. By downsizing your current living expenses, you can use the money that you save for your new home. You can cut your expenses by moving into a cheaper place, stop eating out frequently, and reducing your cable bill.
For example, if you are currently renting a house with a large rent payment, you should consider moving into an apartment with cheaper rent. If you are not sure where the best apartments are in your area, two helpful sites for apartment rentals are hotpads.com and padmapper.com. Be religious about saving money as well. It may be hard at first, but once you are adjusted to cutting back, it will seem like a breeze and you will be in your new house in no time.
Make Down Payment Goals
Get Excited and Stay Excited!
Create a Dream Board
Get Educated
Christine Rillera
Email: crillera@remax.net
Website: www.christinerillera.com
Location: 6800 E Green Lake Way N #255, Seattle WA 98115
Phone: 206-387-6504