Home Loans

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Top Ten Home Buying Tips

1. Check your credit score. Get your credit history in order before beginning the home buying process.

2. Develop a monthly budget based on your income and expenses so that you can determine what is realistically affordable in terms of a mortgage payment.

3. See a lender first. Shop around — compare various mortgage lenders and find one that will work well with you and your situation.

4. Needs vs. Wants — what features do you need in a new home versus what you want? Don't make an emotional decision, make a financial one.

5. Take time to learn important terms and understand their meaning.

6. Once you've found a lender, thoroughly investigate the mechanics of the deal — are there additional costs, such as origination and/or application fees?

7. Learn about the various types of mortgage packages. Figure out, with your lender, what type of mortgage is best for you.

8. Get pre-qualified so you are aware of what you can afford as well as prepared to seriously consider real estate options.

9. Visit as many homes as possible and decide on the house you are interested in based on your approved loan amount.

10. Work interactively with a mortgage lender and be accessible to him/her in order to secure the loan.