Are you going through all those anxiety pangs that one normally gets while mulling over the decision of buying a home? Homebuyers are an anxious lot, eager for useful real estate information. It pays to get yourself acquainted with the steps involved in the purchase of a home.
Heres a list of important things to know before buying a home.
1. The first step is to find out how much you can afford or qualify for. Check your credit report to know your credit worthiness. Clear up problems if any before going to a lender. A good credit rating will result in you receiving lower interest rates.
2. Get pre-approved for a mortgage from a mortgage broker or lender, with a commitment to fund your mortgage in writing. Look out for frequent payment options and prepayment options, which would help knock off some years from your mortgage. And finally, settle for comfortable monthly payments. Once pre-approved for a loan, you will know your price range to begin shopping for real estate.
3. You should buy the real estate that is right for you. Make a wish list of all the specifications you want in your home. Prioritize them based on your wants and needs. Then mark...
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