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I’ve been getting a lot of questions around this time of year. Many of them go like this: “I’m thinking of buying a home in 2018—what are some of the things I should do to get ready for that?” I found a complete list that I’d like to share with you today.
1. Don’t open up any new trade lines. This would be something like a new credit card or a new car. Pretty much anything that can be reported as debt on your credit report will affect your debt-to-income ratio, which affects your affordability. Until you get in that new house, just hold off.
2. Suggest a different kind of “gift.” The holidays are coming up. If you’re like me, you get a bunch of stuff that you’re very grateful for but you know is going to end up sitting in the closet or the garage. Suggest financial gifts instead. Tell them about your plan to buy a new house and ask for a gift you can use as part of a down payment.
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3. Get pre-approved now. Even if you aren't looking to buy for a few months, it's the perfect time to get pre-approved. This way you know what you can afford in advance and start looking at those homes right away. You'll know if you need to work on anything in your credit as well.
It’s the perfect time to get pre-approved.
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You can get the full list of tips right here on Trulia.
If you have any questions for me, don't hesitate to ask. If you have any questions about the process or need any help getting started, give us a call or send us an email. We look forward to hearing from you soon.
