Prior to hitting the market and checking out listings, you need to take care of some necessary tasks, including saving up plenty of money for a new home, enhancing your credit score, and getting pre-approved for a home loan. The average home buyer in 2017-18 searched for listings for 10 weeks and ultimately visited 10 listings.

Despite all of the technology available to buyers these days, your search for your dream property still takes time and careful research — regardless of whether you are a first-time home buyer or a veteran who’s purchased multiple residences over the years. Use this guide to help navigate your home search, become even more knowledgeable about
what to look for in your ideal home, and, in the end, find the right property to purchase.

Build Up your Savings
Though America’s financial crisis is now in the rearview
mirror, lenders nationwide continue to have stringent
lending standards, meaning it takes significant amounts of
capital for prospective borrowers to secure home loans.
Those of you who are cash buyers, keep saving! Prices are
going up!
Because prices are increasing so rapidly, a sound strategy
may be to get a loan with less money down. There are
loans from 0% down to 3.5% to 10% to the more
traditional 20 or 30% down. Your Realtor will get you in
touch with a good lender to help you plan.
Save Money Maximize your Get Proof of Funds or Have your agent
Credit Score Mortgage Preapproval Start showing
you properties!




Improve your Credit Score
Another factor lenders strongly take into consideration is
the strength of potential borrowers’ credit scores. The
math here is simple: The higher your score, the better you
look in the eyes of lenders.
Doing things like paying all of your bills on time and in full,
eliminating outstanding debts, and avoiding taking on new
lines of credit can bolster your credit score and your odds
of securing not only a loan but a much better interest rate.






Get Proof of Funds
Proof of Funds or Letter of Preapproval
After getting all of your finances in order, it’s time to head to lenders to get pre-approved for a home loan. Whereas pre-qualification is an estimate of how much house you can afford, pre-approval is getting lenders to deem you worthy of receiving a mortgage.
Once you’ve been pre-approved, you will be able to make an offers without the stress of scrambling for the lender letter you will need to accompany the offer.

Cash buyer? Decide how you will show proof of funds. Either a statement with the account numbers blacked out or a letter from your banker, financial planner or accountant will suffice.








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