Spring is beginning, which means lots of people are in the market looking to purchase a new home. With the buying market looking sufficient in most areas, this is the most ideal time to buy a new home. Before purchasing a property, it is essential to have your affairs in order, like credit history and employment status. Chang Legal is here to help you excel at your home-buying odds with these important tips:
Have a good credit history:
The most crucial aspect of a borrower is an excellent credit history. Lenders are more likely to fiance money to someone with a solid credit history. Building a good credit history includes paying off credit cards on-time, cell phone bills, and student-loan debts. It is also recommended to limit your monthly subscriptions to ensure your credit remains stable.
Build a solid career status:
When reviewing a mortgage application, one of the first things a lender will look at is employment history. Lenders do not like to see a laundry list of jobs for short periods of time. It is beneficial to have little to no gaps in employment history of the last two years if you are looking to purchase a home in the spring/summer seasons.
Avoid large purchases:
Whether you are planning to go on vacation or buy a new car, it is crucial you get this approved by your lender. Your debt-to-income ratio will have a great effect on how much money your lender is willing to finance. It is recommended to clean-up your financial resume before giving it to your lender, this will not only make you look more reliable, but will also grant you more money.
For more information or any questions about the most helpful tips when buying a home for spring, contact Chang Legal today.
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