Tips For Buying

There are several things you should think about before buying a new home.  The most important thing is to be prepared because if you do find your perfect home, you need have a few things in order for you to make an offer right away.

Check your credit rating.  Credit scores range between 400 and 830.  620+ is considered “good”.  690+ is considered “premium” and may possibly help you get a lower interest rate for your loan.  Below you will find the contact information for the 3 major credit reporting agencies to help you determine your credit rating.  Ask your lender how to improve your credit score if you need to.

  • Equifax: 800.685.1111
  • Experian: 800.392.1122
  • Trans Union: 800.888.4213


Get pre-approved by a lender. 
There are two key benefits to getting pre-approved.  First, you will know how much house you can afford.  Second, when you find a property you would like to buy, your offer will be better positioned if you include a pre-approval letter than someone who doesn’t.  Your lender may want to know some of the following information: job and career status, income, monthly debt payments, and cash available.

Toe the line.  Now is not a good time to change careers, move your money around, or buy any big ticket items.  Lenders like stability.  So, if you are considering any major changes, it pays to meet with a lender and ask them how to proceed before you make any changes!

Find an agent whom you trust.  Buying a home is usually the biggest purchase you will ever make.  You need to shop around for a real estate agent whom you feel comfortable with, who is knowledgeable, and whom you trust.  You do not have to use the first agent you meet, but if they show you properties, do be honest with them and say if you are “shopping around” for an agent.

Once you have your pre-approval letter and credit score, tell your agent that you are a serious buyer and are prepared to find your future home.