Buying a home may be a very stressful process for most, and you may be wondering what might be the best first steps to buy a house. There are many ways to go about it, but here are some tips that will help you when buying your first home.
1. Check Credit Score
Checking your credit score will ultimately be the number one thing that you do when looking to buy a new home. Without knowing your credit score, you are hunting in the dark, hoping that you could find a home that matches up with your score.
Your credit score can be checked through FICO, which requires a one-time or monthly fee. There are multiple other credit checkers out there, so do some research and find one that you like and fits your needs best. Typically, you are shooting for a credit score of 720 for a mortgage loan, but anything over 580 should keep you in pretty good standing. The higher, the better, especially when it comes to credit score, so make sure you do everything you need to get that score up if you aren’t happy where it is at now!
2. Find A Real Estate Agent
A real estate agent will be a major key to helping you find the best home that fits your needs. It can be very stressful to go about buying a home alone, especially because it is technically someone’s full time job, so leave it in the hands of someone who knows the way of the market.
Finding a real estate agent will allow you to live your normal life as they search for the perfect home that will fit right in with you and your family. Checking for agents online is super easy and finding some to chat with will give you a great advantage. Don’t put everything on your back, because quite frankly, sometimes it is easier to just sit back and relax.
3. Get Pre-Approved By Lender
Getting pre-approved for your loan is a great idea when searching for a home. Saving time and money is the key here, so finding a lender to pre-approve a loan will be the fastest way to getting you in your new home.
A lender will be able to pull your financial information and then send you a letter stating what the amount is that you are approved for. Multiple offers will give you an advantage because then you have room to play and the seller will be more confident that you will be able to purchase their home. You are not obligated to get a loan from a lender who you got that pre-approval from, but it may save you that little extra stress that you don’t want to deal with. Weighing your options will give you the best advantage to finding the best home at the best price for you and your family. House hunt responsibly!!
