First Time Home Buyers – Are You Ready To OWN Charlotte Real Estate?
So, you’ve finally decided you want to buy Charlotte real estate? What are your next steps?
Here are two tips for getting the best possible deal for your money –
- How’s Your Credit? The first thing you’ll want to do is order a copy of your credit report from the three major credit bureaus: Experian, TransUnion, and Equifax. Look for inaccuracies in:
- Late payments
After you’ve reviewed your credit report and know your credit score, you’re ready to make improvements to your report. You can send a written “Notice of Correction” to the credit bureaus. It can be up to 200 words. If needed, you can explain why you fell behind on a particular debt, and every time a lender accesses the report, they’ll see your explanation.
It can take several months to for your credit score to go up. However, it’s well worth the effort to get a better interest rate. It can save you thousands on your Charlotte real estate.
- Are You Pre-Approved? Before you begin your Charlotte home search, it is imperative that you get a pre-approval letter from a lender. The lender will take into consideration your income, your debt and your credit history. The lender will then determine what loan amount you can be approved for.
Many home buyers think that a ‘pre-qualification’ letter is good enough. We utilize lenders for our clients who take them through the approval process to the point that there is little to no chance that the loan amount is incorrect or won’t make it’s way to the Closing table. In order to compete in this market, you MUST obtain a pre-approval from a lender. Your Offer to purchase your dream home will carry far more weight with a pre-approval letter than a pre-qualification letter any day of the week! Contact us if you would like a list of lenders who can get you seamlessly through the process.
Are you a first-time buyer? You have just made a fabulous financial decision for your future. There are so many great buys currently available in the Charlotte real estate market. I’m a specialist in this community and would love to help you buy the home of your dreams. Call me at (704) 491-3310 or email me at [email protected].
©Debe Maxwell | [email protected] | Savvy + Company Real Estate | First Time Home Buyers – Are You Ready To OWN Charlotte Real Estate?