Checklist for Home Buyers
Here is what you need to do first....
- Visit a bank, credit union, or mortgage broker and find out how much you can spend on your new home. Have a financial institution check your credit and get you pre-approved for a loan.
- Determine what you need, and also what you want. Where do you want to live? How big a home do you need?
- Once you know how much you can spend on a new home, and what kind of home you need, get in touch with us so we can help you find just the right home for you. Call John at 360-490-6654, or Kedda at 360-4990-9566.
Your readiness to buy a home depends on many factors. Here are a few:
- Your employment history. Lenders like it if you have been employed for a couple years or more. They also like it if you can show that your employment is likely to continue. In other words, institutions that lend money want to know that you have a source of income! They also like to see that you have a checking and savings account. You also should have some money set aside for a down payment, and for earnest money.
- Lenders often check to see if you pay your bills on time, and keep good records.
- You need to determine if you can afford to pay a mortgage, and still pay your other expenses.
- You need to determine if you have the time, and the desire to take care of a house.
- You need to determine if you have the time to look for a house.
Note: Getting pre-aproved for a loan is important. Most sellers will expect to see a pre-approval letter or proof of funds when you make an offer on their house. People don't like having their home taken off the market after accepting an offer, and then finding out that the buyer can't afford to purchase their house after all.