Post Featured Image Are you ready to say “I do”?
Mortgages are a long-term commitment and could involve an agreement up to 30 years in duration. They say it’s as close to ‘married’ as you can get to a house.
Do you have a pre-approval from your financial institution?
You wouldn’t buy a tank of gas without knowing how much cash you have. A pre-approval will let you to know your options and how much you can spend, so when you find the right house, you can submit a strong offer with confidence. Mistakes to Avoid After Mortgage Pre-Approval
Are you able to effectively manage your current bills?
A mortgage payment is no small expense, so your debt load and your ability to manage your current bills will greatly impact your ability to qualify for a home loan. Make sure you are paying your bills on time and able to take on the additional monthly expense of a house payment.
Is your credit score an asset or a liability?
It cannot be ignored. As with any major purchase, you credit score plays a significant role.  If your score is good, don’t attempt any risky changes that could affect your score before applying for a mortgage. If your score is not as healthy as it could be, now is the time to do a little housekeeping and bring it up a few notches. Tips to Increase Your Credit Score
Do you have a good relationship with a lender?
Find a lender that will encourage you to explore your options. Let them help you find what opportunities are out there which best suit your needs and what you are looking for. Top Five Reasons to Keep Your Home Loan Close to Home
Have you found a real estate agent you can work with?
Especially as a 1st time home buyer, an experienced realtor can be a valuable asset to locate homes in your price range, help with the negotiations, and walk you through the purchase process.