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Buyers

Keller Williams

Kamil Andrukiewicz-Keller Williams Realty

Here are only some of the things that you may want to consider before purchasing your first home.

  1. Make sure your credit is in good standing. Lenders will validate your credit by checking your history and credit score. They will check your debts, balances, any outstanding bills and claims. Before you apply for a mortgage, make sure you have your finances in order. Keep all records including but not limited to tax returns, bank statements, rental receipts. Mortgage lenders will usually require those statements at some point of your application process. You can check your credit by using www.freecreditreport.com
  2. Meet with a Mortgage lender! Figure out what mortgage loan is best for you. You will have to evaluate your options, there are several mortgages that may be best for you, options can range from a conventional loan with a 20% down payment to a FHA with 3.5% down or a CHFA loan with 0% down.
  3. Start saving your money, there are some upfront fees that you may encounter; such as a loan application fees, appraisal fees, inspections,etc… Costs will vary depending on the mortgage company you choose.
  4. Find the right Realtor! This may be tougher then you think, all Real Estate Agents are not the same. You have a choice and that is the most important thing you have to know. I would recommend interviewing several agents before you choose the Realtor to represent you and your best interests.
  5. Have an inspection done. Inspect the property that you will call your home. You may feel that this is not important, but it is. Having your home inspected can save you more than money, it can sometimes save your life. There may be several issues that you are not aware of, this is where a qualified inspector comes in place. Some homes are sold as is, but understand that this does not mean that an inspection should be ruled out. Have an inspection done for your own knowledge and safety. The inspection may reveal several issues, such as carbon monoxide leaks that are not visible, foundation problems, pest problems, serious electrical issues and many more. Inspections costs vary, shop around, research and choose a licensed inspector.

 

6 Steps to improve your credit score

  1. Reduce your debt to available credit ratio.
  2. Check your credit report at least once every 12 months. (www.freecreditreport.com)
  3. Check for any credit reporting errors.
  4. Be responsible with the number and type of credit accounts.
  5. Pay your bills on time.
  6. Don’t push your cards to reach credit limits.

Check out the Rent vs. Buy Calculator

The Basics of Making an Offer

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