OKC Realtors Preparing You For Buying
It’s now the prime season for real estate! While our OKC realtors will be busy doing what we love best, we know a lot of our customers are are going to busy thinking about buying a new home. Before you can really start thinking about getting into a home loan situation you have to prepare yourself a little bit. That’s where today’s topic comes into play. Our OKC realtors want to share 3 financial tips with our readers which may help better prepare you before you get caught up in the home buying process.
1.) Monitor Your Credit Score: The fact is that you’re going to be better off dealing with loan officers if you have a decent credit score. To get the most value out of the deal aim for a score over 500. The higher the credit score, the most likely it is that your monthly payment will be lower.
2.) Consider Your Down Payment: A lot of people aim pretty low when it comes to down payments, because moving in itself can be a big expense. Of course, it’s wise to set aside as much as you can to help with your monthly payment situation, as well. Paying at least 5% down is suggested, but it also depends on the cost of the home you’re interested in as higher priced homes may require a bit more capital up front.
3.) Set Aside A Closing Cost Fund: Many times buyers will ask sellers to pay the closing costs and a lot of them will, but in the event that this negotiating ploy doesn’t work out in your favor it would be wise to have a bit of extra money set aside to pay those costs yourself.
Our team of OKC realtors understand that buying a home is one of the largest investments you and your family will ever make, so we want to be certain that you’re truly ready. If you have taken care of all three of the above mentioned financial tips then you just might be ready to get a home loan!
Buying a home has quite a few other steps you might need to consider. Our OKC realtors would be happy to help you get everything in order including helping you to find the best home for your needs!
If y0u need us or want to know more, give our OKC realtors at Metro First Realty a call at 405-242-4004.