Things Every First-Time Homeowner Should Know
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Things Every First-Time Homeowner Should Know
Becoming a first-time homeowner is a major decision. It can also be an exciting endeavor. To increase your chances of success, you need to prepare carefully. Here are some things every first-time homeowner should know.
Your Credit Matters
Before you start to search for a home, the first thing you should do is check your credit report. If there are any errors, get them fixed. Mortgage lenders will focus on your credit report and score when evaluating you. The better your credit score, the less of a risk you are and the better terms you will get.
If your credit score is 760 or higher, you can get a $250,000 loan at a 30-year fixed rate for a 2.5 APR. This means that over the life of the loan, you…
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