New Jersey Mortgage Company Offers 10 Tips for Home Buying
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Before putting an offer down for the house of your dreams, you should consider some important tricks of the trade. This top 10 list presents guidelines to follow when purchasing a home. From seeking professional help, to performing your own extensive research, purchasing a house may be one of the most important decisions of your life. Here at Jersey Mortgage Company we promise to be there every step of the way to offer a stress-free process. Contact your New Jersey Mortgage Company today for more details.
Source: CNN Money
- Don't buy if you can't stay put. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market.
- Start by shoring up your credit. Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible.
- Aim for a home you can really afford. Use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.
- If you can't put down the usual 20 percent, you may still qualify for a loan.
- Buy in a district with good schools. Reason: When it comes time to sell, you'll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.
- Get professional help. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.
- Choose carefully between points and rate.
- Before house hunting, get pre-approved. Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house.
- Do your homework before bidding. So before making it, consider sales of similar homes in the last three months.
- Hire a home inspector. His or her job will be to point out potential problems that could require costly repairs down the road.
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