CNN Money offers up some great tips for anyone considering the purchase of a new home and here they are:
- Don’t buy if you can’t stay put – at least for a few years.
- Shore up your credit – and start by reviewing your credit report.
- Buy something you can afford – which is typically around 2 1/2 times your salary.
- Don’t fret if you can’t put down 20% – you may still qualify for a loan.
- Buy in a good school district to maintain good resale values.
- Get professional help – ideally a buyer’s agent.
- Choose carefully between points and rate.
- Get your loan pre-approved before house hunting so you know what you can afford.
- Do your homework before bidding.
- Hire a home inspector.
Read the article in its entirety here.
Want to understand the difference in points and rate, get pre-approved for a mortgage loan, or simply learn more about what’s involved in financing a home purchase? Contact a Cornerstone loan officer at 615.385.6898.