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Your New Home Is Now Within Reach
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For buyers everywhere, the dream of homeownership is now within reach. With the falling prices of houses, what was not attainable a few years ago may be within your budget now. Now that your new home is within reach, here are a few tips in reaching that goal. First, you will want to work on the financing, as the rules and regulations have become a lot tighter than before. The guidelines used to be so loose that a lot of people got financing with little or no money down. You will not find that today. You will need to put down 5% (if you can afford more, put 10% down). If you have marks on your credit score, clean those up right away. Make sure that when you apply for the loan, you have money in the bank and havent been late on any payments. Have your mortgage company provide you with a letter stating that you are approved, NOT pre-qualified. This means they have actually run your credit and you have proof of this. Sellers like to see that you are ready and able. Some banks provide a pre-qualification letter stating that once your credit has been approved they can finance you. This is like handing a seller a blank piece of paper, because your credit has not even been checked. So, now that your new home is within reach, go the extra mile to secure the home of your dreams.
About this poster:
Posted by:
Cheremac
(female, mid-40s)
(Posted 12/1/07)
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