Buy a House Fast

If you’re buying a house for the first time, it’s not uncommon to feel overwhelmed. The good news is that there are ways around it.

People tend to think that house-shopping is such a BIG DEAL. While it is significant, putting too much pressure on yourself is not beneficial for anyone.

It’s much better to sit back and relax!

There are some things that you need to consider before buying a house.

Consider these two simple questions before buying a house:

1. “Can I qualify for a loan?”

How solid is your credit score? Do you have a solid financial background and a good history with your credit expenses? If you feel confident about your credit score, wonderful! Move on to question two. If you feel iffy about your credit history, read these tips to help you build on your credit score.

2. “Can I comfortably handle this mortgage payment every month?”

Ask yourself “Can I afford this house?” Often people qualify for houses that are priced higher than their budget can cover. Sit down and crunch ALL the actual numbers. It’s important to consider how much you would pay per month and keep enough wiggle room so that you are not making commitments that leave you on a shoe-string budget for other expenses.

If you still feel undecided about buying a house, we at Express Realty Services can help you. With an in-house lender in place, we can walk you through the pre-approval process at no extra charge. We sell more than 30 homes a month, catering to a wide range of budgets. We’re sure we can find a home that’s just perfect for you.

Pick up the phone and call us at 1-888-306-9450 or visit our website.

If you’re like most soon-to-be new homeowners, just waiting for your house to close, it’s not uncommon to feel preoccupied with projects you can do and things you need to buy to make your DC area home just right. Sometimes it’s just the carpeting that’s too good to wager the seller into a replacement, but it’s ugly or doesn’t match your furniture.  Or maybe you simply have no intention of moving your hand-me-down kitchen table or refrigerator into your new home.  Your inclination is to hit Sears, Lowe’s, or Bonzo’s Carpet and Tile so you can get your hands on all the state-of-the-art gadgets and appliances to match the standards of the new move-in. That’s how it should be, right?

You might be tempted to just pull out your credit card and charge the purchase, or perhaps push it onto a new account.  The plan is to have the installers on their way as soon as you have the keys.  Perfect, right?

Or maybe you need a new car.  You have budgeted for it, but wanted to have your mortgage loan approved before you made the deal.  Good strategy, correct?

Wrong, wrong, wrong! Fannie Mae’s new rules go into effect June 1 (though lenders have the discretion to put them into play at once) that require lenders to pay more attention to changes in your credit report from the day you applied until the day you close.  They must refresh your report to see if your credit balances have changed or if you have acquired a new debt.  They must even check out credit inquiries to see if you succumbed to that persuasive furniture salesman and are obligated to pay back a ‘new’ loan.  Lenders now have access to new fraud detection tools that can determine if you are trying to work around the system or if you have undisclosed debt.

For some borrowers, a bit of additional debt might not make much of a difference, but for most people, it could delay closing. Worst case?  The bank decides against approving the loan, altogether.

If you are buying a home, be forewarned and plan accordingly.  Pay cash for what you need!  If you want to preserve your cash until after closing, wait until then to buy.  If you really can afford the new purchases or the new car payment, or want to take advantage of a 30-60-90 deal or deferred billing, wait till you have the keys in hand.  Don’t even let the store run your credit to see if you qualify.  If you need carpeting installed or want some other project completed before you move in, plan a little slack in your moving schedule.

As exciting as the offers around may seem, you might want to gauge and rethink giving your new refrigerator a home, before you’ve closed on yours!!

Looking for the perfect affordable home in the DC area, including Maryland or Virginia?  Express Realty Services has a great selection of homes to fit your budget.  We can even show you our latest remodeled and renovated homes from our sister company, Express Homebuyers!  Call today or visit the Express Realty Services website.