Financial housekeeping may take more time than you expect, therefore if you are planning to buy a home in six m
A lender will help you figure out what neighborhoods you can choose based on your finances, debt,
Did you know that consumers are able to receive three credit reports a year? Knowing this gives you an advantage when planning to buy a house. Remember to check whether the loans and accounts listed are yours as well as the account balances. It will avoid any possible error which can take even months to fix. This will help you to buy a home in six months.
Please check: 6 financial reasons why you should buy a home
Doing this will definitely increase the possibility to get your loan approved. Your credit score should be above 625 in order to get a lower interest rate. A common question among new buyers is “How do I lift my score?” First, it is essential to pay all your bills since it will help you bring down the balances on credit cards. Moreover, it is important to keep an opening or closing credit card until you have bought your house.
Down payment can be 3.5 percent of the purchase price in some mortgages, therefore, be aware of offering any, down payment, for instance, buyers who think that providing 20 percent of down payment will ensure the purchase. On the other hand, many buyers forget to have a cash fund for any emergency or problem in your house, there won’t be any landlords to help you this time! This is a great tip to buy a home in six months.
We also recommend you: 4 Points to Consider Before Buying a Property
If you are looking for a lower interest rate, take your time and shop around before accepting any offer. Quotes must be requested 35 to 40 days before getting your new house. Therefore, comparing interest rates from different companies will increase your chances to have better negotiations with the sellers and save, amount of money.
A preapproval letter will help you know how much you can borrow. You any, need to choose a lender who will check your bank statements and income. Furthermore, it shows that you are qualified for a loan which gives you an advantage against potential competitors.
Needing more información? Check: 10 Tips for First-Time Home Buyer
Buy a home in six months is totally possible! Do you need help with that? Please contact us!
If you need financial advising or you want to schedule a call, please contact us, we are ready to help you today.