- Know you credit score - the best mortgage rates are available to borrowers with the highest scores. Unless you know what your credit score is at all three major bureaus, you don't really know what rate you'll have to pay.
- Clean up your credit - it is estimated that about 90% of credit reports have errors. Some are not serious but others could affect a borrower from getting the best loan terms. It is your responsibility to know what is on your different reports and correct them if possible. You're entitled to a free copy of your credit report each year from Experian, Trans Union and Equifax.
- Get pre-approved - Taking the time to make a loan application with a qualified lender even before you start looking at homes will provide peace of mind, make sure that you are looking at the "right" homes and may help you negotiate the best price on the home you select.
- Do your homework - when you find the home that meets your needs and desires, research the tax assessments, school ratings, crime activity, possible zoning changes and comparable sales in the area.
I hope you and yours had a Great Thanksgiving. And remember if it is time to make a change in your life, perhaps real estate school may be the answer. A new class starts Monday December 5, at Martin Fellows Real Estate School here in Montgomery.