Seven Ways to Make Home Buying Simple

The home buying process can be very stressful, time consuming and costly especially for those who have not a clue. Today’s market is definitely ripe and ready to devour for the home buyer with low interest rates and the price of homes at an all time low, now is definitely the time to buy. In an attempt to alleviate your stress, save you some time and hopefully some money as well, we have compiled our seven ways to make the home buying process easy hit list.

1. Self Credit Check
First! Order your credit report from all three agencies Equifax, Experian, TransUnion and review it for errors. If there are errors contact the credit reporting agency and have the errors removed. If you have negative items that are correct prepare a letter of explanation for those items to be attached to your file. Lenders are currently looking for a minimum credit score of 620. Avoid making significant credit purchases during this time, such as a car.

2. Assess Your Income
Review your budget. What can you afford in a monthly mortgage? Please do not take the "no money down slogan so literal. You will need some money to “do the deal”. There are expenses associated with purchasing a home such as, earnest money deposits, appraisal fee, home inspection fee (not required but recommended), closing costs, and oh yes, a down payment. Most of which if not all will require CASH from your hands.

3. Financing The Home
Interview several mortgage lenders and brokers to find the best mortgage to fit your needs. Educate yourself on the mortgage options available, both conventional loans and government loans.

4. Real Estate Agent
Seek an agent who will be attentive to your needs. Someone who will not only be diligent in helping you find your new home but will also work hard on your behalf. One who will understand your needs completely and is willing and capable of negotiating the deal.

5. Search For The Home
Make certain that you and your agent are organized in your search for your new home. Take good notes on each home because over time many homes will start to look a lot alike and you could find yourself dazed and confused and wasting time while someone else moves in on your best home.

6. Make the offer
Remember you are not the only buyer searching, and the really good deals do indeed go quickly. So if you find one that really feels right don't hesitate. Be wise though, the price of most homes are negotiable. Sometimes closing costs could be paid by the seller, if you have a good agent they will work hard in this area to re-work the price and or terms on your behalf. However, there is no guarantee that they will succeed. What you achieve in negotiating will depend greatly upon the needs of the seller.

7. Close the deal
You should know exactly what is required of you at closing. You must receive a statement called HUD-1 from the title company stating all the details of the deal including how much you must pay to get the keys.

Without a doubt there is some work involved, however, if you organize your efforts with the above list you will surely save on time, effort and quite possibly a considerable amount money as well. If you ha