Because the task of buying a home seems so daunting, you may be tempted to buy the first property that falls within your price range. This strategy, however, could lead to buyer’s remorse as you find yourself sitting on a property you can’t really make use of. Avoid buyer’s regrets by knowing these home-buying secrets.
Keep Your Money Where It Is
For the next couple of months while this search process ensues, you should avoid making any large purchases. You need as much money as you can for the down payment, as most lenders look for at least 20% of the sale price. So, if you want a home listed at $300,000, for example, you’ll need to put down at least $60,000.
Additionally, making big purchases is risky and might damage your credit before you can get pre-approved for a loan. Lenders want to see that you’re reliable, and keeping your money where it is helps you prove that. You can easily avoid debt by putting a stop to credit card use altogether. Read more on this article. http://bit.ly/2qZF2ac