As the days grow longer, the spring homebuying season comes into view. What can house hunters to do to prepare for buying a home and taking on a mortgage this spring? Here are three valuable tips for buying a new home this spring:
For the best results, pinpoint the neighborhood where you want to purchase a home and find a real estate agent who works there. Your realtor can offer inside information on local properties and notify you when new ones become available. If you’re looking for a mortgage, it’s also wise to work with a loan officer who is familiar with area properties.
Check credit scores
Obtain a copy of your credit report from all three credit reporting agencies—TransUnion®, Experian®, and Equifax®—to verify your credit scores. You have the right to a free report from each agency every 12 months. If your reports contain errors, correcting them will help you negotiate more favorable terms on a mortgage.
Know your limits
To establish a budget, get a pre-approval letter from a lender and decide how much you want to spend. You can also use an online mortgage calculator to set a reasonable limit. Once you find a home you like, the letter will allow you to make an immediate offer.
About Premium Mortgage
Headquartered in Rochester, New York, Premium Mortgage Corporation serves residential real estate markets across upstate New York, Florida, Vermont, Massachusetts, Connecticut, Pennsylvania and Ohio. Since opening in 1999, the company has grown to over 100 employees and attributes its success to matching mortgage financing to individual clients’ needs, while also giving excellent customer service to real estate agents in the community. For ongoing mortgage news, please visit: www.premiummortgage.com and follow Premium on Facebook, Twitter, and Instagram.