Buying a home can be a pretty complex process, especially if you don't know how to navigate the steps to home ownership.
Here are 10 things every buyer should know before buying a home:
1. Always have your own representation.
Hire a Realtor that can help you through every step of the process. Though most will be helpful, all Realtors will not have patience to help you improve your credit. Choose the right one.
2. Expect timeliness when dealing with lenders.
All professional lenders should call you back within 48 hours.
3. Know your credit score and how to maintain it.
Maxing out your credit card lowers your credit score. Use your credit cards to help you achieve excellent credit scores by keeping the balance below 40% and paying on-time every month.
5. Never buy more home than you can afford.
6. You can buy a home after bankruptcy, foreclosure and short sale.
Most buyers do not know you should not be given a higher interest rate because of your past circumstances, especially if you have rebuilt your credit and your score is 640 or above!
8. Adjustable mortgages can hurt you.
9. ALWAYS get your home inspected.
Having knowledge regarding the home buying process is only half the battle. The best thing you can do for yourself is to hire an agent that will help you through the process.
Lisa W. Jefferson is a Georgia Real Estate Broker with 20 years of experience under her belt. She is "blessed to be a blessing" and dedicated to helping the community stay educated on home buying, home selling, and investing. You can get the guide Take Charge! Buying & Selling Real Estate.