Boca Mortgage Blog

What To Do Before Buying A House

July 9th, 2014 2:07 PM by Leonard Silvestri

                    
     


 Buying your first home should be a thrilling experience, providing that you are properly prepared. This may seem like common sense, but a surprising amount of first-time home-buyers are unaware of the things they should do before buying a home. Read the article below goes into detail about what you should do before buying a home for the first time.

Having savings and being able to show that you have ample reserves can help in the loan approval process. Your savings can also be used for your down payment and your closing costs. Redo your monthly budget with an eye toward trimming your expenses so more of your income can go into savings. At the same time, stop taking on new debt. Buying a big-ticket item like a new car is never a good idea when you are going through the home loan process. Wait until after you have closed on the new house to think about major purchases. Even buying new furniture before your loan closes can trigger red flags to the lender. This is also a very good time to pay off or pay down your credit cards as much as possible.

Posted in:General
Posted by Leonard Silvestri on July 9th, 2014 2:07 PM

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