3 Steps To Buy a Home in 2015

You have made the decision that you are going to buy a home in 2015 no matter what!  This is either your first home purchase or perhaps you have been out of the real estate market for a few years due to a foreclosure or a short sale. Whatever your reason is to enter the housing market in 2015, now is the time to get started!

Contrary to what you may think, if you wait until January or February, you probably won't be into a home until at least March or April. By then, you will have missed out on 25% of your potential mortgage deduction for 2015 taxes. In addition, if you take some basic steps now to get started, you can avoid unexpected issues that may arise causing unnecessary disappointment and stress.

Here are a 3 simple steps that you can take now to help you start the home buying process.

1.  Check your credit score - When you purchase a home, the mortgage lender will collect your credit information from different sources. Go to www.myfico.com to read about how credit scores work. You can sign up for a monthly monitoring system if you wish or for a free report you must order from all 3 of the following www.Experian.com, www.Transunion.com, www.Equifax.com. These are the three major credit reporting agencies that your mortgage lender will order from. Ordering from these companies should not affect your credit score and you are entitled to one free report per year.

2.  Get some referrals to a local mortgage company. Your choice of who to use for your mortgage is a critical one.  Be careful not to "chase" the interest rate and I will caution you not to make the interest rate the deciding point on which lender to use.  Rates change several times per day and an honest lender will tell you that.  Realtors will also tell you that the biggest reason sales don't go through is because of lenders who do a great sales pitch in the beginning but don't deliver when it's time to close.

3. Speak to a trusted real estate broker. There are few agents in any area who really run a professional estate business and will deliver you exceptional service.  Unfortunately, many people don't realize that and hire anyone with a license to help them with the biggest investment of their life!

 

If you would like to discuss your real estate needs, whether buying or selling, call me anytime.  I always enjoy hearing from you!
 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com. You may also go to Facebook.com/NancyPuder Realtor and "like" her page to access other real estate related articles.