5 Helpful Tips To Get Your Dream Home!
There's a lot involved in the purchase of a house from finding the best mortgage to getting the down payment squared away. If you are thinking of purchasing a new home at the Lake of the Ozarks, here are a few things you should consider before you begin the home buying process.
1. Check Your Credit
Your credit history is one of the biggest factors lenders use to determine whether you're a good borrower. When you get ready to apply for a mortgage, check your credit report, and if needed, file written disputes to eliminate errors. If you have credit cards with high balances, try to pay them down to show that you're not using all of your available credit, which could send up a red flag for some lenders.
2. Evaluate Assets & Liabilities
It's important to know how you're spending your money. Do you have enough to save at the end of the money or do you go from pay check to pay check? If you understand where your money is being spent, you may be able to change some spending habits to be able to save some more. It is also good to have an understanding of your cash flow to see how lenders will view their income.
3. Get Documents Together
When applying for a mortgage, homebuyers must document income and taxes. Typically, mortgage lenders will request 2 recent pay stubs, the previous 2 years' W-2s, tax returns and the past 2 months of bank statements. Buying a home can sometimes take a long time, but knowing what you need and where you can find it can save time.
4. Find Total Monthly Cost
Although knowing your monthly mortgage rate is important, it's also important not to forget all the other costs associated with homeownership. You may think you can afford one house, but the property taxes may be too high or the condo association fees are a little bit pricey. In addition to property taxes, HOA fees and condo association fees, it is also important to estimate how much the homeowner insurance will be. Call and talk to an insurance agent and get a quote on a property in the area you want to live. Just because a lender will give you a loan for more money than you actually want, doesn't mean you need to spend it all.
5. Find The Best REALTOR
There are many different real estate agents at the Lake of the Ozarks, so it is important that you pick one that will help you find your dream home. From listening to your needs and wants to helping you during the closing processes, real estate agents do a lot to help their clients. As a Lake of the Ozarks REALTORS, I would love to help you find your new Lake home.
If you are in the market for a Lake of the Ozarks home, give me a call at 573-216-8439. Together, we can find the perfect home to suit your needs. Whether you are planning on living at the Lake full-time or you a looking for the perfect vacation home, I can help you find it.
1. Check Your CreditYour credit history is one of the biggest factors lenders use to determine whether you're a good borrower. When you get ready to apply for a mortgage, check your credit report, and if needed, file written disputes to eliminate errors. If you have credit cards with high balances, try to pay them down to show that you're not using all of your available credit, which could send up a red flag for some lenders.
2. Evaluate Assets & Liabilities
It's important to know how you're spending your money. Do you have enough to save at the end of the money or do you go from pay check to pay check? If you understand where your money is being spent, you may be able to change some spending habits to be able to save some more. It is also good to have an understanding of your cash flow to see how lenders will view their income.
3. Get Documents Together
When applying for a mortgage, homebuyers must document income and taxes. Typically, mortgage lenders will request 2 recent pay stubs, the previous 2 years' W-2s, tax returns and the past 2 months of bank statements. Buying a home can sometimes take a long time, but knowing what you need and where you can find it can save time.
4. Find Total Monthly CostAlthough knowing your monthly mortgage rate is important, it's also important not to forget all the other costs associated with homeownership. You may think you can afford one house, but the property taxes may be too high or the condo association fees are a little bit pricey. In addition to property taxes, HOA fees and condo association fees, it is also important to estimate how much the homeowner insurance will be. Call and talk to an insurance agent and get a quote on a property in the area you want to live. Just because a lender will give you a loan for more money than you actually want, doesn't mean you need to spend it all.
5. Find The Best REALTOR
There are many different real estate agents at the Lake of the Ozarks, so it is important that you pick one that will help you find your dream home. From listening to your needs and wants to helping you during the closing processes, real estate agents do a lot to help their clients. As a Lake of the Ozarks REALTORS, I would love to help you find your new Lake home.
If you are in the market for a Lake of the Ozarks home, give me a call at 573-216-8439. Together, we can find the perfect home to suit your needs. Whether you are planning on living at the Lake full-time or you a looking for the perfect vacation home, I can help you find it.
Here For All Your Real Estate Needs At Lake Of The Ozarks!
573-216-8439
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