Buying a home can be an intimidating process, especially if you are considering buying a home without using a buyer’s agent. Luckily there are a few easy steps to make the whole process less daunting. These top five home buying tips will make you more confident and ready to buy either your first, or next, great home.
1) Get Pre-Approved for a Loan
In any market and especially a tough real estate market, the most important step to take before buying a home is to get pre-approved for a loan from a reputable lender. It used to be enough to be “pre-qualified” but that isn’t enough anymore. A home seller will want to know that when you make an offer, obtaining financing won’t be a problem. Therefore these days submitting a pre-approval letter when you make an offer to the seller is almost considered mandatory.
To get pre-approved, you will need to first choose a mortgage broker or banker. They will need information from you about your job, credit history, assets and debts. With this information you will know what amount of money you will need for a down payment and what price range of house you can afford.
To learn the other top five tips for home buyers, keep reading the For Sale By Owner (FSBO) blog on Yigdigs here…
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