There are always things you need to do when making such a large investment as buying a home so that you can make a more educated purchase. Following are some tips from the pros.
Be aware of how much you can really afford
What is your home buying power? It is the combination of your credit score, the amount of money you are working with, and your salary, which tells the lender how much you can realistically afford to pay for your monthly mortgage payment.
There are costs to buying a home that most buyers don't think about. You could possibly qualify for a mortgage with as little as 3-3 1/2% down payment. There are also other closing fees that both a seller and a buyer has. A buyer will have title fees plus prepaid mortgage, escrow, and…