A few tips to buy a house
By admin at 12 December, 2008, 12:05 am
1/ Know your business – do your own research to realize what is going on in the real estate business and especially in your area. Find a real estate broker that you trust and knows the area.
2/ Understand your financing – understand the basics of financing: fixed rate, 15 years and 30 years. Avoid complicated loans with changing interest rates. You know what could happen next…
3/ Preserve your FICO score – be careful with your mortgage payments. Never forget to preserve your credit score. Keep the balance of your credit cards under half of the total credit line.
4/ Collect data – bankers like to have all information ready when you meet them : tax returns, bank statements, W-2’s and 1099’s. You will make them feel more comfortable working with you.
5/ Understand your business – Read the newspapers on the real estate business, books and understand what is going on in this business!
Finally, have fun! It’s a great experience to buy a house!
No comments yet.