With home prices and mortgage loan rates both on the rise, how can you increase your chances of securing the home you want? Here are some vital tips. First, several months in advance review your credit report. You need to know if there's anything on there that shouldn't be, which could adversely affect your credit score and, therefore, your borrowing power. Then find out from a lender what you qualify to borrow.
Second, when making an offer on a house do not give a low-ball offer! Sellers are in a better position than they used to be, so they can ignore low-ball offers and take a better one, leaving the buyer still searching. Rely on your real estate agent's market analysis for guidance, and be prepared to offer fair market value. You may not get a second shot, so your first offer should be your best and final. (read more)
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