You’re ready.  It’s time.  Homeownership is on the horizon for you.  You’re thinking within 6 months you want to be in your place and settled down.  That’s awesome and exciting!

Unless you’re independently wealthy and plan on paying cash, you’re going to need a mortgage.  Likely you’re going to want the best rate on your mortgage as well… who wouldn’t!?  So what can you do to ensure you’ll be approved and lock in a great rate? Read below for important pre-home buying tips:

• If you currently own a home, don’t fall behind on any of your mortgage payments.

• Keep your credit card, auto and all other payments on time.

• Avoid making large purchases on your credit cards (including furniture for the new home).

• Don’t buy a car until after you have closed on the new home.

• Avoid changing jobs or becoming self-employed.

• Don’t co-sign for a loan for anyone.

• Regarding your bank account:  don’t change bank accounts & avoid making any large deposits other than your paycheck.

• Don’t let anyone other than your lender pull your credit score.

• You’re going to need as much liquid funds as possible for your downpayment and closing, so don’t spend what you need to be saving!

Lenders have to pull your credit report and verify your employment 10 days before closing.  If you do any of the above, it could affect your ability to close on the loan.  And no one wants to get that close to owning a piece of the American dream just to have it fall apart at the end!  So stay focused, save your money and enjoy the reward that will come your way when you’re finally handed the keys to your new home!

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If you are interested in finding out how I can assist you with your real estate needs, click this Calendly Link to book time for us to chat.

Relocating to the Cary area? Click here for the Cary Relocation Guide.

Thinking of selling your home? Click here for the Seller’s Guide.

Learn More:

• Click here to learn more about the Due Diligence Fee.
• Click here to learn more about the Earnest Money Deposit.
• Click here to learn more about the benefits of having a buyer’s agent.
• Click here to learn more about the benefits of having a seller’s agent.

Happy Home Buying & Selling In North Carolina!