Monday, March 21, 2011

Grand Bahama Home Buyers - Don't Make These Mistakes


By Jim Reed


There are some simple steps that homebuyers often miss when looking for a new home. Taking the time to consider these can save you thousands of dollars, time, and stress.

1. Be honest with your realtor and lender about your credit history. Your credit, whether good or bad, affects everything from your down payment to your interest rate. Your realtor or mortgage consultant can often advise you as to how you can get credit problems cleared up or completely eliminated from your credit report before you apply for financing or make an offer on a new home.

2. Get pre-approved for a loan before you begin your search for a new home. Then you will know in advance exactly how much home you can afford. This makes it possible for you to make an offer on your new home with confidence that enough funding is available.

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