Have you spent years renting homes or apartments and have finally grown tired of paying all that rent money to someone else? If this is you, then it might be time to consider purchasing a home, and keeping that cash for yourself. However, you do need to ensure that you are prepared on a financial level before jumping into the equity market. There are many economic considerations to make note of before you start looking for a home. But, if you can arrange your finances into a sensible plan and secure a mortgage then it can be the most rewarding purchase you will ever make.
Finance plays a huge role in the decision to purchase your first home. Which is to be expected, unless you have a few hundred thousand dollars available to you at the time you're ready to purchase the home. You should really make sure that you are prepared for the application for a mortgage as it will involve a thorough investigation of your past credit history. If there are any issues that you know of on your credit report, then you should take care of them before you apply for a mortgage. Sometimes, there are small blemishes that are easy to erase, but there may be some things you may have thought were taken care of, but have not been removed or may need more attention before they are eligible to be removed. Once these items are taken care of, be sure to get a letter of release that you can show to your lender, mortgage broker or whomever may need to verify the corrections, if necessary. If there are no issues with your credit then that will only make the process easier.
There is no stronger tool in the home buying process than having all your financing in line before you start shopping. This way you will know immediately, how much "house" you can afford. This is a great attraction for sellers as they want their homes to sell quickly and without trouble during the escrow phase. An offer from a buyer with ready-to-go financing will hold greater favor with almost any seller. If you are mindful of these things then when the time comes to make your offer, the whole process will be easier and much less stressful, so you can dedicate your time to what is really important. Like how to decorate your new home, or when to throw that well deserved house warming party!
If you think you are ready, let's talk to get you qualified today!
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Call or Text Rahman Colson 310.892.4322
