Closing Time

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You’ve made an offer and you’re ready to close!  Yee Haw!

So, get your coffee and your energy bars stocked because you’re going to need them!  Oh yes, closing is a long, tedious task, but it will get you your keys to your new home!  So, hang in there soldier.  You can do this!  Grab a hand squeezer exercise thingy to strengthen up those writing muscles and get ready to sign your life away!

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Before You Buy…

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There are some serious steps you need to take before you dive into buying a home, or even getting pre-approved.  Be aware that the process, itself, of getting approved will affect your credit.  In order to get pre-approved, your loan officer will need to run a credit report, which will, in turn, ding your credit.  The more times your credit is checked by companies, the more it is affected, so keep that in mind.  Don’t just willy nilly have your credit checked every month by other companies to see how your rating is if you are looking to buy a home soon.

Use this same advice for applying for any new credit cards.  Restrain yourself from applying for new credit cards to “save that extra magical percent off your next purchase”!  Department stores are notorious for these kinds of offers.  You must resist!!  It will affect your credit rating in a bad way to have open credit cards, so close the ones you don’t use and pay off the ones you do use.

Banks look at debt-to-income ratios, so be informed as to what yours needs to be by asking your preferred loan officer.  If you don’t have a loan officer, your Realtor® will happily refer you to a good one.  You may need to work on paying off some debt before going further in your home buying process.  Have no fear though, it might not take as long as you think!

Watch the video above to get extra tips as well.  Enjoy!

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Click Here to search for your next home

Contact me at: 651-683-2467 or lisa.maxwell@results.net  RE/MAX RESULTS