•
Get pre-approved before you start looking at houses.
- You will save time by looking at only houses in your price
range.
- You will be in a better position to get your offer accepted
because the seller knows that you already have your loan approved.
This is important to the seller because he/she won’t have
to take their house off the market while the buyer tries to
get the loan approved.
•
Consider the total cost of the loan when choosing a
lender.
- The lowest APR may not always be the best choice. Total costs
of the loan include the finance charge, closing fees, and discount
and/or origination fees.
•
Get rate locks in writing.
- A written statement should tell the interest rate, the length
of the rate lock, and program details.
•
Use professionals for property, roof, and termite inspections.
- After the seller makes repairs, you should have your professional
inspector verify the work was done properly.
•
Start shopping for home-owner’s insurance as soon
as you have an offer accepted.
- If you wait until the last minute, you may not have time to
shop around.
•
Allow for delays in closing the real estate transaction.
•
Review and read all documents before you sign.
- The documents that you will be signing are all standard forms.
Ask to see them in advance so that you will have adequate time
to read them.
