Jul 28, 2014 in Homeowner. 0 Comment
The purchase of your first home is an exciting time. You’ll be putting down roots, and maybe even starting a family. It’s easy to become too emotionally invested in the process and make costly mistakes. Here are 5 tips to help you find a home you’ll love at the right price.
1. Protect Your Credit
Keep your cash flow steady for at least 3-6 months before buying a home. This means no huge purchases and new credit cards. Lenders want to be sure that you’ll be responsible and reliable with your money. Having a high debt potential can drastically reduce the amount of your loan or prevent you from getting one. Also, get a copy of your credit report around 6 months prior to house shopping, and make sure it’s accurate. By law, you’re entitled to one free copy each year from each of the major credit reporting agencies.