... good, you made up your mind and decided that renting is not for you? Congratulations! You have taken the first step to financial freedom, you are about to become more independant and you will ultimately own a part of this country!
Now let's talk about what your first step needs to be in order to make this a big success story for you. Certain decisions thoughout the home buying process will have a big impact on your life once the transaction has closed. The biggest one is going to be your monthly mortgage payment. In order to figure out what your mortgage payment is going to be several wild cards have to be considered: Home value, Financing terms and your Credit Score. In order to allow you to get the best deal I want to make sure we start you off on the right foot. Don't start shopping for a home before you are certain of what you can afford. You do not want to find your dream home and come to find out that you cannot afford it because you are short a couple of points on your credit score.
With that being said, your first step, even before contacting a loan officer to get pre qualified is to get all three credit scores pulled. Here are some links to get this achieved in an efficent manner:
Let me save you some money first, you are eligible to get your credit score from all 3 institutions once a year without charge. Follow this link to the Federal Trade Comission if you want to learn more about your free annual credit report:
Now let's talk about what your first step needs to be in order to make this a big success story for you. Certain decisions thoughout the home buying process will have a big impact on your life once the transaction has closed. The biggest one is going to be your monthly mortgage payment. In order to figure out what your mortgage payment is going to be several wild cards have to be considered: Home value, Financing terms and your Credit Score. In order to allow you to get the best deal I want to make sure we start you off on the right foot. Don't start shopping for a home before you are certain of what you can afford. You do not want to find your dream home and come to find out that you cannot afford it because you are short a couple of points on your credit score.
With that being said, your first step, even before contacting a loan officer to get pre qualified is to get all three credit scores pulled. Here are some links to get this achieved in an efficent manner:
Let me save you some money first, you are eligible to get your credit score from all 3 institutions once a year without charge. Follow this link to the Federal Trade Comission if you want to learn more about your free annual credit report:
After pulling your free credit report, make sure that all information on the report is correct. If you find information on the report that is incorrect, make sure to take corrective action immediately. All three credit reporting agencies have different procedures when it comes to correcting false information. Some can be rectified online, some by phone and some has to be mailed in.
If you don't mind spending the money you can also sign up for a paid service like the one's beneath and get a triple credit report that gives you all information at once. To save time, this might be a viable option. Here are some options for you:
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