5 Tips For Home Buyers This Season
Financial expert, Michael Farrar, shares tips for those in the market for a new home. Farrar is the former director of Mortgage Lending at BluCurrent Credit Union. He now serves as the credit union's VP of Business Lending.
1. Don't Wait for Lower Rates
If the best and brightest economists can't figure out the housing market, you may miss out on great rates and a great home that WAS listed. Rates are still historically low, so maximize your purchasing power now and don't miss out.
2. Get Pre-Approved
Mortgage lending is the most regulated form of lending out there - great credit scores alone can't ensure that you'll be approved for a home. Get with a lender and have them show you what you can afford before looking into homes.
3. A House Is an Investment
Buying a home is one of the biggest investments most people make during the course of their lives. Falling in love with a home can lead to poor financial decision-making, so make sure the home you are purchasing also fits into your long-term investment goals.