1. Don’t buy if you can’t stay put.

If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner – even in a rising market. When prices are falling, it’s an even worse proposition.

2. Start improving your credit score.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

3. Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you’ll do better to use our mortgage tools available on the Internet – easy, convenient, online shopping for the best loan programs and most current rates available to see what you can afford.

4. Buy in a district with good schools.

In most areas, this advice applies even if you don’t have school-age children. Reason: When it comes time to sell, you’ll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

5. Get professional help.

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a experienced loan office.  At Better Loans we work together with the assistance of an experienced live loan officer to guide you  through the often difficult and confusing process of choosing and getting the exact loan to meet your specific needs.

6. Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points — a portion of the interest that you pay at closing — in exchange for a lower interest rate. If you stay in the house for a long time — say three to five years or more — it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.

7. Before house hunting, get pre-approved.

Getting pre-approved will  save yourself the grief of looking at houses you can’t afford and put you in a better position to make a serious offer when you do find the right house. Experience the Better Loan difference!  We promise to you is that we will be available to you during each and every step of the home loan process.

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