GO STRAIGHT TO THE INTERNET AND NOT USE A BUYERS AGENT
The internet is definitely a source to find listing. However, a buyer’s agent is used for more than just showing a house. They give info on market comparables, steer you away from properties that may have potential problems and provide guidance when negotiating with the selling agent. It’s ALWAYS wise to have a professional on your side.
PREQUALIFICATION MEANS A DEFINITE LOAN
BEFORE you start shopping for a house, it’s wise to obtain a PRE-APPROVAL FIRST. Once you submit all of your required financial information, the banks can decide to loan less. Also, having a PRE-Approval will help your offer strengthen your offer.
IT’S OK TO WAIVE ON THE HOUSE INSPECTION
Don’t be in a hurry to close on your house! Skipping the inspection is a mistake…ALWAYS. Inspections can uncover major problems with the home and give room for negotiating repairs and purchase price. Never omit this vital step.
A DOWN PAYMENT IS THE ONLY UP-FRONT COST.
A survey, inspection, option fee, appraisal and earnest money are upfront cost. Once you get to closing, your down payment and closing cost will be due to the title company.
YOU CAN’T BUY WITH BAD CREDIT.
A conventional loan will require a score of a 720 but an FHA loan ONLY requires 3.5% down and sometimes 620 and under credit score.
