Tips for First Time Home Buyers
What is the first question you ask yourself when it comes to purchasing your home? Do I need to purchase a home? What is my credit score? Some of us are so scared of what our credit score could be, that we stop there and accept being renters! No! We cannot think that anymore and we won’t!
Let’s walk through the steps in getting your first home.
First, you must you check that credit to see if it meets the approval requirement, which is 620. If your credit needs improvement; it’s okay. Taking the steps to work on your credit is the most important step you could ever take on purchasing a home.
One way to improve your credit is paying your bills on time. If you have credit card bills, try getting the balance down 10% of the credit limit. If you do not have a credit card but need to work on increasing your credit score, you can apply for the for a secured credit card with a minimum of $300 credit limit. As mentioned before, pay on time to keep the balance low.
You’ve gotten your credit score up to a minimum of 620! You have figured out how much you can afford; now it’s time to find a mortgage lender. What’s a mortgage lender? A mortgage is the financial institution that loans you the money. It is highly suggested to do your research on what lenders suit you best.
You’ve been pre-approved to purchase your first home! Congratulations! Your final step would be making the Property Bar your agency to make your home-buying process, a success!
The Property Bar has the best agents to help you find the perfect home for you and/or your family! We are here to make your home-buying process as smooth as possible.
If you are looking to purchase a home, call The Property Bar at 864-609-4303. You may also email us: [email protected].