In addition to the physical challenges of shopping for a home in the fall or winter – rain, mud, snow and cold – you also face scheduling challenges when you shop for a home during this time of year. Most people are juggling a wide range of obligations and scheduling demands during the holiday season, and your home purchase may go more slowly than at other times of the year. You may also face challenges making contact with important people in the process; your lawyer, the lender, the real estate agent or even the borrower; as people juggle their other demands and take time off. Be prepared for these challenges and beware of the holidays when buying your home. Continue reading “Beware of the Holidays When Buying Your Home” »
Winter Housing Market Deals
The winter housing market is traditionally slow for a variety of reasons. Few people are shopping for a home at this time of year, and few people put their homes on the market as a result. Most people wait until the spring to put their homes on the market so they can get more interest and a higher purchase price. As a buyer, though, this can have an advantage for you: fall and winter sellers are often motivated. Because the market is so slow during this time of the year, many of the people who sell then only do so because they have to – which means they may be willing to make a great deal to push the sale through. Continue reading “Look for Great Deals in the Winter Market” »
Free Annual credit Report
One of the most important things you can do before you buy a home is to review your credit report. When you review your report, you should look for erroneous information, as well as check on the state of your credit. If you find any errors, you can file a dispute with the reporting agency to get them removed. Errors on your credit report can cost you thousands of dollars in higher interest rates, or can even prevent you from getting a loan approval. If you review your credit report annually, you can also keep an eye out for identity theft, and make a timely response if you notice someone else abusing your credit. Continue reading “Review Your Credit Report Annually” »
Negative references on your credit report can make a huge impact on your ability to get a home loan. Late payments can cause your credit rating to drop dramatically, and they may also cause your lender to view you as a bad risk on a home loan. If you can get negative references removed from your credit report, your credit rating can spring back and you may have a much better chance of getting approved, and may get lower interest rates. Not all creditors will remove negative references, but it never hurts to ask. Continue reading “Talk to Creditors About Removing Negative References” »
Credit Report
You probably know that your credit report is an important part of the home mortgage approval process. Lenders review your report to learn about your credit history, and look for important information about payments, how much credit you use and whether you can handle your financial life well. For most of us, a credit report is an arcane document, and we have no idea what lenders get from it past the negative items. What does your credit report tell lenders, and how can you make it tell a better story? Continue reading “What Does Your Credit Report Tell Lenders?” »
Home Shopping in Fall and Winter
The fall and winter aren’t traditionally peak times for the housing market. Most people buy homes in the spring and summer; those seasons are when you’ll see the most homes for sale, and the most people shopping for homes. The fall and winter present some challenges for home buyers, so if you’re shopping in this market, you’ll want to keep a few things in mind: Continue reading “Shopping for a Home in the Fall or Winter” »
Select Markets are Skyrocketing
While the possibility of a double-dip recession looms large over many consumers’ financial prospects, some housing markets are posting astonishing gains. Double-digit gains are being reported in some areas, with some markets reporting over a 100 percent increase in home sales! What does this mean for you as a home buyer? That means it’s time for you to evaluate your local economy and take the steps to buy – before you miss out on a great housing deal! Continue reading “Home Sales in Select Markets are Skyrocketing” »
