Shopping for a Home: Save Yourself Time and Money

When you decide you are ready to purchase a home, be careful to follow these important steps before doing so:

  1. Check Your Credit Report: By checking your credit report, you can determine whether or not you need to settle any debts owed in order to raise your credit score. The higher your credit score, then the lower interest rate you will receive on a new home.
  2. Meet with Lenders: If you bring your printed out credit report to a lender, they will be able to pre qualify you for a loan. During this time you should ask questions and really understand the terms of the loan they provide. You can then know what you can comfortably afford and shopping for a home will not be as confusing or stressful.
  3. Start Saving: Be sure that you have the highest down payment possible. With a larger down payment, you will be able to have lower interest rates and have a better chance at getting the home you want.
  4. Lay Off on Spending: Do not consider making any large purchasing until after you have been able to purchase your home. Remember, you want to save as much as possible in order to have a large down payment. The other spending costs for big ticket items can wait.

For more information about real estate in Contra Costa County please contact Cary Amo, located in Lafayette.

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