Prepared to buy?

Asked by Jamie, Horsham, PA Fri Apr 16, 2010

..I am looking to buy a house in 6 months. Is there anything that I should be doing now to put me in a better position? I want it to go as smoothly as possible.

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Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Fri Apr 16, 2010
BEST ANSWER
Hello Jamie,

Yes by planning ahead you can definitely save money by starting now. You can speak with a mortgage broker who can get you pre-qualified, check your credit and advise you on the things you can do to be in a better position when you are ready to buy. A good broker can manage your expectations by telling you how much you can qualify for and how much house a certain monthly payment can get you. Also they can tell you whether or not to pay down debt or save more money for a larger down payment. One thing I do for my clients is look for ways to improve their credit score which will give them a lower rate. Sometimes that can be done by the clientthemselves or sometimes I recommend an inexpensive credit repair service. I have counseled some clients for more than 2 years before they are ready to buy so I absolutely believe that planning early is the best way to go.

Alan
1 vote
Gita Bantwal, Agent, Jamison, PA
Sat Aug 7, 2010
You have been given good advice.You should sit down with a lender and see what you can do to improve your score, and how much you need to save for down payment and closing costs and not to purchase expensive items on credit card etc.
You should also start researching homes online so you have an idea of what homes sell for and you can narrow down townships or school districts where you want to live. You should go to http://www.hud.gov and look or resources for home buyers.
Web Reference:  http://www.gitabantwal.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Apr 16, 2010
Yes, you can visit with any qualified loan officer(s), see what your budget can handle and have your credit score checked--that way you will have an idea as to how much money will be needed, if your credit needs improving recommendations can be made, if you need to save some more noney, you'll know, etc.
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