What To Do When Buying A Home

Buying a home takes planning and planning can save you thousands of dollars and not just on the home you buy, more importantly, the financing you will get. Think about, if you can save $100 per month off your mortgage what kind of savings this will impact will have over the next 60 months or 120 months. If you plan on staying in the home for at least 5-10 years it can be costly if you rush the financing, so plan ahead! A loan officer in most cases are paid by commissions and the additional hours they have to work on your loan may be the difference by the loan officer charging you more points and fees or higher interest rates if you are unprepared. The first step you need to do is pull your credit report which can be done free of charge with your lender and review for any inaccuracies. If you have a FICO score less than 720 then there is room for improvement. Review the credit report early on with your lender can save you money in the long run, so if you are thinking about buying a home in 6 months this is the first step I would do. To apply online and to review your credit report visit http://www.californiahousingassociation.com/gold_mortgageapp.asp Next we will cover what questions to ask your loan officer.