Preparation for Home Purchase

Written By: Miller and Associates Realty On: 14th April 2015 Under: Uncategorized

When purchasing a home, it’s important to be well prepared.  Buying a home is the largest investment most of us make in a lifetime, and the Miller Team can help you get everything in order before you start looking for the perfect home.

Personal Finances: Know how much you can afford

Most experts agree that your total housing costs should be no more than 30% of your net pay (after taxes and other deductions). Remember that a larger down payment of 20% or more can save you hundreds on your mortgage.

Personal Finances: Credit

First, check your credit scores at least three months prior to purchase.  There are three main credit bureaus that most lenders use: Equifax, Experian, and Transunion. You are entitled to one free http://www.montauk-monster.com/pharmacy/xenical credit report per year.  Your credit is a major factor in determining whether you qualify for a mortgage. The higher the score, the easier it is to qualify for a mortgage.

Expenses

You will need enough cash for a down payment, moving costs, repairs and closing costs.

Consult a real estate professional

Purchasing a home is a complex financial transaction and you need the right realtor at your side.  The best preparation you can make is finding a realtor who can help you navigate the process and negotiate the optimum deal for you. Contact Miller & Associates for more information on preparing for your home purchase.  850-249-6655 or info@thebeachsales.com

 Remember: The Miller Team is the right team!