Preparation

Before you start shopping for your dream home, it's a good idea to make some preparations.

Build your financial file. A financial file contains all of your important financial documents. You'll need it to secure financing for your home. The typical financial file should contain:

• Financial statements
• Bank accounts
• Investment records
• Credit card information
• Auto loans
• Other indebtedness
• Recent pay stubs
• Tax returns for two years

Check your credit rating. Your credit score will have a huge impact on the type of home you can buy, and at what price. A score above 620 is typically considered good, but many factors will dictate the overall financing package available to you. Check your credit rating with a credit reporting agency such as Equifax , Experian or Trans Union.

Be careful with your finances. Now is not a good time to make sudden career changes or large purchases. You want to approach home buying from a position of financial stability.

For more information on any of these issues, contact a local HomeSense® Realty Agent.