Your Search for Homes

Your Search for Homes

Today with the internet and all the realtor websites out there most people start their home search as much as a year in advance of their home purchase. The same goes for those selling their homes. Many people will spend hours and even days on end on the internet reviewing what homes area selling for, what condition those homes are in compared to theirs and what they need to do to prepare for the sale of their home or purchase of their new home.

I have watched people spend days negotiating the price of a home or after spending hundreds of dollars on home inspections to walk away from a deal over $1000 or $2000 in needed repairs or in the price of a home. This type of attitude baffles me when they, the buyer has spent no time or as most people less than 1/1000th of the amount of time the had spent on researching a home as they should have for getting prepared for a mortgage loan for their purchase.

You should spend just as much time learning about preparing your credit and savings for your mortgage loan as you would for your home search. The different between a 640-credit score and 720 could be as big as ½ % on the interest you receive. On a $200,000 30 fixed rate mortgage loan that could mean a difference of over $12,000 in interest payments.

Working towards paying down some debts to increase your credit score and finding the right balance between debt and saving for your down payment and closing cost is just as important as selecting your home. You should start working with a good lender like us prior to working with a good realtor. Getting pre-qualified is a good start but even better is to get preapproved.

Before Your Search for Homes starts ask questions, get all your facts, get preapproved properly and we will see you at a happy closing table.