Mewborn Team Real Estate Consultants: CoastalLuxurySanDiego.com

February 20th, 2010

5 Home Buyer Mistakes That Could Cost You a Bundle – 5 Day Series

Categories: Buyers

We’ve all heard the stories – you’re so excited to buy your dream home.  You sign the documents, you get the keys, and then you find out about the pitfalls of your new home. You’ll never catch everything about your new home – the good points, or the bad, but there are things you can do to be prepared for your home ownership.

This week will be a series of five things you can do to be prepared to buy your first home.

Check your credit report and score
You’ve spent hours online looking for the perfect house.  You’re ready to get out and walk through an open house.  But before you set aside time to start touring homes, get your credit report – a full one that includes your score.  You can access your credit report once every 12 months at www.annualcreditreport.com.  But even if you have to pay for a credit report, that $10 could save you thousands of dollars over the course of your mortgage.  In 2010, you need a credit score of over 700 to qualify for the best mortgage rates.  By reviewing your credit report a few months ahead of time, you can correct any mistakes, increase your score, and reduce your mortgage payments!

Tags: Buying Your First Home, Credit Score

Posted by Mike and Amy Mewborn//