It's a *great* time to be a buyer!
Mortgage rates fall near six-month low 11/01/2007
There's more available to you now than every before whether you want a new home or a resale!
Need to sell your current home before buying the house you want?
While not for everyone, if you have a desirable property that will sell quickly, you may want to research getting a Bridge Loan to buy the house you want while going about selling your current house.
What is a Bridge Loan?
You may also put in a contract contingent upon selling your current home. My last sale in Hunters Creek went though with that contingency!
Do you know how much you can afford?
- Get pre-qualified by calling Century 21 Mortgage at 1-877-516-4493.
- They are available 7 days a week Monday through Friday 8:30AM-10:00PM EST, Saturday and Sunday from 10:30AM-7:00PM EST.
To see what the latest Mortgage Rates are, spend some time at Bankrate.com
Use their Comparison Search to see what finance companies are offering.
Understand your credit before buying a home!
It's critical to understand your credit scores and history prior to purchasing a home.
You can get free credit reports once per year from AnnualCreditReport.com
Here is the FTC page regarding credit reports:
http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm
To buy a copy of your report, contact:
- Equifax: 800-685-1111; www.equifax.com
- Experian: 888-EXPERIAN (888-397-3742); www.experian.com
- Trans Union: 800-916-8800; www.transunion.com
One of the primary things you can do to make your FICO score pop up is to pay off or down your credit card balance(s).
What is a FICO score? Look here for information- www.myfico.com
It is important that you don't change your spending habits between the time your lender approves your loan and the house closing.
Your lender will likely pull another credit report just prior to closing.
If you maxed out your credit cards or bought a new car, etc...your score will suffer and the lender may need to adjust your loan.
Consult your lender in regards to any purchases you plan to make between the approval process and closing.
