If you’re thinking about buying a home in the upcoming year, here are a few things you can do right now to prepare yourself. 1. Check your credit score. Make sure that it meets the loan program that you can qualify for. If it’s not, meet with a lender so they can outline specific steps you can take to correct the situation.
2. Be mindful of the debt you accrue this holiday season. Don’t open a lot of credit cards and put a lot of debt on them. If your debt-to-income ratio is out of line, you’ll have a hard time buying.
3. Ask for cash as your gift this holiday season. That way, you’ll already be saving for your down payment and closing costs
4. Let the agent you plan on working with know that you want to work with them in the upcoming year. They need to reserve time to focus on your needs and what you’ll be looking for down the road. You want the very best agent working for you, so give them a heads up.
5. Keep an eye on interest rates. Interest rates are at the lowest right now so keep an eye on it for next year
6. Pick out a lender you know you can trust. Ask your agent for advice on this—they work with all kinds of lenders and they know who you can trust, who’s got the lowest closing costs, who’s got the lowest interest rate, and who will perform the best for you.
7. Get pre-qualified by your lender. Take the time to give them your information so that when you find the perfect home, you already have the file set up and you’re not waiting on your lender to get back to you in order to put an offer on that home.
If you have any questions or would like more buyer or seller tips, give me a call. I’d be happy to help you.
Niveen Khalifa
Coldwell Banker Alliance
DRE#02034499
909-631-5301
nksalem@verizon.net
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