Many people are looking for a new home to buy in San Diego because the real estate market is perfect for buyers. High foreclosure rates, government aid for first time buyers, low interest rates and desperation has made it a great time to buy and you do not need a realtor to get a steal. The fact is that if you do your homework and are prepared you will be able to get the house you want at a great price. You need to take the time to find the best deal out there whether it is a foreclosure or just someone who needs to sell, and that means going through newspapers, looking on line and in magazines. San Diego is full of great deals right now, you just need to look and find them.
What you need to be aware of is how you are going to finance the house and what you need to get approved on a loan application. Most lenders demand three things, and these can not be addressed in a few days, you need to take months and years to prepare for them. First you need to have money saved up, figure at about 20% of the purchase price to be safe. If you are a first time buyer this is where you can get some help. The government has a program that will give you some money for free to put towards a down payment on a new home. Next you need to make sure you have established income. If your monthly mortgage bill will be ,000 figure that the bank wants you to earn between ,000 and ,000 a month so they know you can afford it easily.
Home Line Of Credit
Finally you need to have a good credit score not only to get approved but so you can save on the monthly payments. This may be the easiest of the three even if you have a low number because you can fix it in weeks with credit repair. Credit repair is a fast and effective way to fix your score and it works great.
By David George
Finance and Credit, World's Apart #4 - You Don't Need a Realtor to Get a Steal
No comments:
Post a Comment