Buying a home can be quite a hassle, especially if you’re not sure where to start. In today’s blog entry, we’ll be looking over ways how you can stay in the loop on how to buy a house in the new decade.
Typically, you’d need a credit score of 620 to buy a house, but some lenders will go down to 580 or below. Make sure to ask your lender about a preferable credit score. It most certainly doesn’t hurt to ask. If you’re curious to know what your credit score is, there are plenty of free programs and apps that can do as such (Equifax, Experian, TransUnion, etc.)
With a variety of homes that go for sale day in and day out, a preapproval can keep you ahead of the curb. Not only will this give you an edge ahead of other buyers, but it also shows that you’re serious. Shopping for loans before gaining a loan preapproval can be a huge mistake, so make sure that you’re settled and ready with your preapproval before heading out to buy.
“How much house can I afford?” is a question that gets tossed around a lot when it comes to first time home-buying. Like credit scores before, this is another scenario in which free websites and applications can help in this scenario. (Bankrate, SmartAsset, Zillow, etc.)
These are just some of the many ways you can stay ahead of the curb when it comes to home buying. If you need further assistance on how to buy a home and further advisement on your credit score and pre-approvals, Mortgages Done Right can help. With years of experience in the world of mortgages and home loans and professional mortgage brokers at our side, we can help find a home loan plan that fits your financial needs with ease.
We hope that you found this blog entry useful, and if you have any further questions about home buying, contact Mortgages Done Right today! Until next time, have a pleasant day.