Every day, literally, every day I get a call from someone on Zillow, Trulia, Realtor, or any of a hundred home searching sites of someone searching for their perfect home. Unfortunately, less than 1% actually have the wherewithal to actually make it a reality. Here is how you do it!
- Your credit may be fantastic (750 and up) or very poor (under 500), but the first step is finding out what your credit score is. You can go on myfico.com and $30 later get the exact results, or you can speak with one of the lenders I work with and for free they will: pull your credit, devise a credit repair plan, guide you through that plan. Two common mistakes: paying a “credit repair” company to do it for you, and relying on kredit karma or other service to give accurate results. Don’t be an amateur, do what the professionals do. Get your credit in good shape before you begin the rest of the process.
- This one is easier to fix than credit. You generally will need about $3500 for each $100,000 in home you buy. So the $200,000 home would be $7,000 in down payment savings. You can get this from your savings, close relatives, and government programs. So, in partnership with your lender, find out what you may qualify for and if taking that money is better than using your own. Too much to type, but remember you rarely get something for nothing, so double check about every program. Not every one is truly free.
- Many people make the critical mistake of spending more time picking where they want to go to dinner than they do choosing the professional to help them with their most important purchase. Don’t be like them. Take the time to meet with your realtor, interview them, read reviews, and make sure it is a good fit for you. You want a realtor who is busy, knows the market, the region, and still has time for you!
Give us a call first to put everything in order 🙂