by Lisa Williams, CRS, GRI, BPOR
Williams & Associates Realty
We’re starting the new year with a brighter outlook for real estate. Home values are rising and best of all, mortgage interest rates remain at an all-time low. Here are a few tips for 2013 to jump-start your home buying New Year’s Resolutions!
1. Contact a Real Estate Professional. There are so many aspects of a real estate transaction that it’s not always easy to maneuver your way around all that needs to be done properly. Make sure you find the perfect agent that relates well to your needs and that you trust.
2. Your Down Payment. Most conventional mortgage loans require 5-10% down and a FHA loan looking at a minimum of 3.5% down. A good budget and savings plan is key.
3. Know Your Credit. Most lenders look at a FICO score of 640 or higher. Get a copy of your credit report early because you may need to have some investigation into your credit report file.
4. Get Organized. Your lender and Realtor are going to require a lot of paperwork from you in order to get you approved and ready to buy a home. Be prepared by having all your financials, employment records, assets, and even divorce papers ready as to speed up the process of getting approved. These days, banks want it all, so start getting it together now.
5. Get Moving. Once you have your pre-approval you are ready to start viewing homes. The market is busy and many homes may have multiple offers. But, you’re ready because you have done your homework. Good luck and happy house hunting!
Williams & Associates Realty can provide you with your real estate needs. Lisa Williams has been working with individual and families since 1981 providing a variety of real estate services. Ask about the free home buying seminars where professionals will be there to help answer questions you may have regarding homeownership.
Feel free to contact Lisa Williams, CRS, GRI, BPOR 2009, 2011& 2012 FIVE STAR Real Estate Agent of Williams & Associates Realty for more information at email: [email protected], www.williamsandassociatesrealty.com or (414) 463-9948.