Exclusive Buyer

means it’s your responsibility to ensure you understand every aspect of the mortgage deal. You should do some thorough research and investigation, which includes interviewing whoever is handling the loan, and asking him or all important and relevant questions. CHECK (AND FIX) YOUR CREDIT Another task you should undertake before you begin looking for a new home is organizing your credit issues. It’s important to ensure your credit is in order, because making any mistakes at this juncture can take months to correct and might even end up sinking your dream of homeownership. Be sure to obtain your credit report as part of this process. This will provide you with much-needed information in knowing where you stand, and giving you a chance of getting the best bargaining terms. Fix your credit if you need to. If your report shows you aren’t creditworthy for amortgage, then there’s no point in searching for homes and applying for a loan— at least right now. Use a credit repair company, but do some research first to make sure you find a reputable and affordable company. Some are not qualified to properly fix your credit; others will overcharge. A reputable company will not only help you fix your current credit score, but also help in fixing any mistakes that show up in the report. CONSIDER ALL EXPENSES As a new homeowner, remember that the down payment and the monthly mortgage payments aren’t the only expenses that you’ll be responsible for. Many buyers, most notably first-time buyers, make this mistake of forgetting to consider all expenses associated with continued homeownership. As a new property owner, you’ll be paying closing costs, property