Home-buyers tend to have a difficult time with getting organized for the financing of their shiny new house. Well, we have some tips to help prepare you for the process. With just a little knowledge about what to expect, a home-buyer can make the whole process quick and smooth. It can all be broken down into four simple steps to get a head start.
1. Check your scores. Surely, you have already heard about the FICO scores or your credit scores in the past. Before even looking at houses, make sure that your score is up to par. It is free to get a copy of your credit reports from all three bureaus once every six months. Use these as goals. Try to remove any bad markings that might be on these reports. For instance, if you had a water bill that you owed from your old apartment, it might show up on here. Try to take care of this before looking into financing your new home. It will easily raise your score a few points. These scores determine the monthly cost that you will incur and the down payment needed for this new mortgage. Continue reading