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Check your credit.
Before starting your home-buying journey, it is vital to check your credit score. Although timely payment of bills can reflect positively on one's credit, it does not necessarily indicate a perfect credit score. That said, most lenders will require at least a 640 score in order to qualify for a loan. In cases where the score is not yet at that threshold, there are various ways we can help. Whether it be boosting your score to meet the standard or offering loan programs that are not solely reliant on credit scores, we are here to support you every step of the way.
Talk with a lender before you look at the first home.
When it comes to deciding the right loan for you, it is critical that you weigh your options carefully. With the current housing market, sellers are increasingly choosing buyers who have a conventional loan. On the other hand, first time home buyers tend to opt for FHA financing, largely because the qualifying requirements are more accessible.
It is essential that you consider the pros and cons of each option and determine which one is right for you. Conventional loans generally require a higher down payment and have stricter credit score requirements, but you might get a lower interest rate. FHA loans are attractive because of their low down payment and credit score requirements, but the interest rate is typically higher than a conventional loan. Lastly, VA loans offer no down payment and the best interest rate, but you must be eligible for a VA loan.
When deciding between a conventional, FHA, or VA loan, you should take into account your credit score, down payment, and the interest rate you are able to get. Carefully research each option and make sure you understand the terms of each loan before making a decision. Discussing this with a lender can help ensure that you get the best loan for you and your current situation.
If you are a cash buyer
You will need bank statements showing you have the funds to purchase, in lieu of a pre-approval letter. Simply black out your account number. That, and an earnest money deposit are all we need to make an offer on a home for you.
Find out market conditions
The best way to find out real estate market conditions before you buy is to research the area you are interested in. Look at recent sales prices for similar properties in the area, as well as the average days on market for those properties. You should also research the local economy, including job growth, population trends, and the availability of amenities. Additionally, talk to a local real estate agent to get their opinion on the current market conditions.
We understand that buying or selling a home can be a stressful process, so we strive to make it as easy and stress-free as possible. We will handle all the paperwork, negotiations, and other details of the transaction so you can focus on the bigger picture. We will also provide you with expert advice and guidance throughout the process to ensure that you make the best decisions for your needs.
So if you are ready, lets get started