The recent National Association of Realtors 2015 Profile of Home Buyers showed 95% of first-time homebuyers and 86% of repeat buyers financed their home purchase. Clients in the market for a new home can increase their chances of a successful home buying transaction by following some of these tips.

 
   
 
 
 


Check Credit Reports

Credit reports can affect a client's mortgage rate and ability to qualify for home financing. It's important they review their credit report for any errors and take measures to boost their credit score if needed. Homebuyers can always check their credit report for free here.

Get Pre-Approved for a Mortgage

Before clients start a home search, always meet with a mortgage lender to get pre-approved. It will not only strengthen their offer, it helps clients understand their buying potential and helps real estate agents define the field of eligible properties that they can afford. Know the difference between a pre-approval and a pre-qualification!

Boost the Budget

Beyond helping clients create a budget for a home within their range, consider also looking for ways that could help reduce some of the costs. Seller or lender credits or grant funds can help offset closing costs or help with larger down payment funds, possibly expanding their search options.

Resale Value

The average person moves 11.3 times in their lives so it's also important that clients consider the resale value when looking at homes. While a client may purchase their home as a long-term investment, keep in mind that they may one day need to Sell it.

Buying a home is a major undertaking. I strive to educate clients regarding all facets of the home buying process. Call or email me today if I can help you or someone you know.