Most homebuyers find the Atlanta real estate purchase process stressful, so it’s important to prepare both your finances and sanity before starting the home buying process. There are a number of steps you can take that require a little work now, but will amount to a lot of stress-saving later.
You can make securing your mortgage in Atlanta much easier by taking the following steps:
- Order and Clear Up Your Credit Report – by ordering your credit report, you can get a good idea of your standings before you try to get into the market. Seeking out any wrong information can put you at a stronger position by purging out inaccuracies. Making sure your report is clean and ready can help you both get a loan and enjoy a lower interest rate.
- Figure out how much home you can afford – while you can come up with a long list of all the features you want in your home, it is far more important to figure out how much home you can afford. To do this, you should take your budget and plan on spending 25 to 33 percent (and no more than 36 percent) of it a month on housing.
- Set a savings goal – once you have a new budget in mind and an idea of how strong your credit is, you can plan to save either to help with closing costs, down payment, putting money toward buying origination points or simply having an emergency fund in case you need it for additional payments.
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