Spring Homebuying: How to Get Mortgage-Ready for the Season
Spring is one of the busiest times of the year for the housing market. With warmer weather, longer days, and fresh listings hitting the market, it's the perfect season to find your dream home. But before you dive into house hunting, it's important to ensure you're mortgage-ready. Here’s how you can prepare to buy a home this spring.
1. Check Your Credit Score
Your credit score is a major factor in determining your mortgage eligibility and interest rate. You can request a free copy of your credit report and review it for any errors. If you’re like many Americans, you may think your credit score could use some improvement, now is the time to create a game plan for improving your credit score - before shopping for a home!
2. Get Pre-Approved
Most real estate agents will not work with buyers who aren’t pre-approved prior to shopping for a home. A pre-approval lets the buyer and the realtor know what price point the buyer can reasonably look at when going house shopping and, in many situations, is required to put an offer in on a home
3.Explore Downpayment Options
Talk to your dream team at Imagine Home Lending about what mortgage programs and down payment options will work best for your unique needs. Imagine Home Lending offers a variety of mortgage products to cater to each individual client. Before house shopping, it’s a good idea to learn about what options are available to you!
4. Start Building Your Team
A home is one of the largest purchases a person will make in their lifetime. For that reason, it’s important to have the best professionals to support you during the process. Ask friends and family or search through online reviews to find the right Realtor. You may also find it beneficial to build a short list of local home inspectors, internet companies, etc.
Spring is a competitive season for homebuyers, but with proper preparation, you can position yourself as a strong buyer and secure the home of your dreams. Taking these steps now will set you up for success and help make the mortgage process smooth and stress-free.
Imagine Home Lending’s experienced Mortgage Loan Officers are here to support you in your efforts to prepare for the home buying season!