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6 Steps to Take before Buying in 2018

Is it one of your New Year’s Resolutions to buy a home in 2018? Now is the time to start preparing! There is plenty to do before house hunting actually begins. Take these 6 steps now so you are prepared for buying in 2018.

  1. Check your credit score – Typically you will get the best interest rates if your score is 740 or above. If your credit score falls short, correct any errors that may be on your report, start paying your bills in full and on time, and get your credit limit raised.
  2. Don’t open new credit cards – This directly affects your credit score! A lower average credit age and too many open lines of credit may push you under the 740 credit score limit.
  3. Interview potential real estate agents – Look for an agent who is knowledgeable, helpful, and a good fit for you. Don’t hire your neighbor’s best friend’s cousin just because you have a connection! You owe it to yourself to shop around.
  4. Find a mortgage lender – Before you even start looking for a home, you need to know how much home you can afford. There’s no bigger torture than finding your dream home and then finding out you can’t afford it.
  5. Keep tabs on interest rates – Interest rates are on the rise and it’s important not to assume that you will get the lowest rate. If possible, you should begin your search sooner and shop around for the best rates and lenders.
  6. Get pre-approved – When a lender pre-approves you for a loan, it shows sellers that you are serious about purchasing their house! We have seen many first offers get passed over because the potential buyer wasn’t yet pre-approved for a loan.

Have you already started preparing to buy a home in 2018? We would love to help! Shoot us an email at info@wilsonrealtygroupnc.com!

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