Preparing for your real estate purchase

  • Check your personal credit. There are many places online where you can get your credit report for free.
  • Some credit cards will also provide your credit report if you ask. If there is anything wrong, get it corrected.
  • Save as much as possible for the down payment and closing costs. It’s worth it to sacrifice short-term luxuries for your long-term goal of home ownership.
  • Avoid using credit at all costs! Right now you should not take on another car payment, buy a boat, or even apply for another credit card.
  • If someone is donating a substantial sum toward your new home, deposit in your savings account months before applying for a mortgage loan. Ask an attorney, accountant, or loan officer about gifting rules.
  • If you are a veteran, order your VA Certificate of Entitlement in preparation for choosing a VA mortgage.