The First Two Things You MUST-DO before Home Shopping

Examining your credit and finding how much credit you have are the first two steps in a ensuring that the purchase of a Bronx home goes smoothly.

After what seems like a decade of saving, the time has arrived to make your first Bronx home purchase. This real estate purchase may be your first of many or it could be your one and only. Regardless, there are a few MUST-DO's you need to consider before you even look for your Bronx home.

First, learning your credit score is of top priority when home buying. The top three credit bureaus are Experian, Equifax, and TransUnion. Three-in-one reports are available too so consider that idea as well. When you pull your credit reports make sure that the information listed is correct and that any problems are resolved before you venture into buying a home. Many shoppers don't realize that sometimes something as simple as a forgotten $12 bill can raise your home loan interest rate.

Next, seek out a pre-approved home loan. With a pre-approved loan, the lender has agreed to pay a certain amount of the home's cost. What does that mean for you? You can make the home purchase quicker. Plus, in a bidding war your bid could have more ‘weight' since you are a secure buyer who already has the funds. By doing a pre-approval, opposed to a pre-qualified loan, you'll know how much the bank is willing to commit to on your behalf.

These are only two simple steps but they are the most important when you begin looking for a Bronx home. Buying a house can be complicated, but a little knowledge in both of these areas regarding money will make your home purchase much less stressful.