Buying a home can be complicated but it helps to be prepared for the process in advance. When you are closer to buying a home, you will need to speak with a realtor, you will need to check first time home buyer programs, you will need to check MLS and MLS listings.
Also check your options, what kind of houses for sale you are interested in, and how much you can afford to buy a home. Your options may include buying foreclosure homes, condos for sale, single family houses for sale. Also remember to check homes for sale by owner as well, also known as FSBO, you always need to be cautious when talking to a for sale by owner, always make sure to have your realtor represent you, for sale by owners are not experienced in selling homes.http://www.RiteCurb.com provides real estate listings including off market sales, foreclosed homes for sale, short sale homes for sale. There are different type of homes: Town houses, single family homes, condos, twin homes and town homes, make sure what kind of home is a good fit for you before you start looking for homes. Also you want to make sure to find the right area to live in San Diego. It is important to know San Diego real estate market and finding houses for sale in San Diego is easy with RiteCurb.com.
Before starting to seriously shop for a home, consider the following
one-year timeline that’ll help you arrange your finances. The more time you give yourself for this process, the better.
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Feel free to check different neighborhood houses for sale:
A year out (or ASAP)
Get your credit reports. If there are errors on your reports, you will pay a higher interest rate on your mortgage. You might have issues getting a loan. The three major credit bureaus (Equifax, Experian and TransUnion) offer free reports. Scan for suspicious activity, collection accounts for debts you don’t owe and negative marks (other than bankruptcy) that are older than seven years.
Obtain your FICO credit scores.
Your credit scores are three-digit numbers used to measure your creditworthiness. They help determine the rates and terms for your loan. While there are hundreds of different credit-scoring formulas, the majority of lenders use FICO.
Consider a credit–monitoring service.
Given how important your credit and credit scores will be in buying a home, many consumers appreciate the early warning if a collector tries to post a bogus debt.
Attack your debt.
Try to eradicate bad debt such as credit-card balances and payday loans which signal that you are living beyond your means. Getting any overspending problems fixed before you buy a home is key homeownership typically involves big costs such as property taxes, insurance, maintenance, repairs, improvements and decorating.
Save money. Cut back on luxury expenses and put as much money aside as possible. Think about your dream of homeownership. Ideally, try to have at least a 5% down payment but putting down 10% will give you even more financing options.
Consider a mortgage broker.
After you are in escrow, shop for a mortgage. Get referrals from family and friends or look on the National Association of Mortgage Brokers website. Research neighborhoods and agents. Check Internet listings, attend open houses and talk to others to identify a professional to help you in your home search.
Once you’re in escrow
Shop for a mortgage. Consider the national mortgage lenders, local lenders and online brokers. The full approval process typically takes four to six weeks so be sure to move quickly.
Conduct appraisal, home inspection and walk–through. An appraisal is required for loan approval. An inspection is not required but can alert you to any serious problems before the deal closes. The walkthrough is usually done within 24 hours of the deal closing, so you can make sure that the home sellers have performed any agreed-upon repairs and the place is in move-in condition.