To Renovate or Not To Renovate Your Lafayette Home Before You SellWhen thinking about selling your home in the Lafayette LA area, homeowners often feel they need to get their house ready with some
Do's & Don'ts When Purchasing a Home
Dated: October 6 2020
To make sure you're completely educated on the home buying process, I wanted to make sure you knew the Do's & Don't during this phase.
Do: Check Your Credit
Many credit reports contain erroneous data. If one exists, it can lower your credit score and cost you thousands of dollars, or even keep you from getting a loan.
Do: Use a Mortgage Calculator
Your lender can tell you how much home you qualify to buy, but only you know what payment you can comfortably afford. It's rarely a good idea to leverage your income to the maximum since it leaves no room for error or any change in plans or income stream.
Do: Shop for Your Mortgage
Don't: Give Everyone Your Social Security Number
Once you have your credit score, give that information to lenders when shopping for a loan. Be cautious when providing your Social Security numbers and other personal data; some lenders may ask for these things in order to verify your credit score, but if you're not actually applying, they should be able to provide basic data about the loan to you based on the verbal information you provide.
Do: Get Pre-Approved for Your Purchase
Getting pre-approved for your mortgage -- a process where you actually start a mortgage application with a lender and receive a conditional commitment for a mortgage
Do: Read Your Mortgage Disclosures
Your Loan Estimate disclosure tells you what the most important features of your loan are -- the interest rate, any potential adjustments or prepayment penalties, and what the loan costs are expected to be.
Don't: Cave Into Pressure
Finally, don't sign anything you don't understand or feel uncomfortable with. Ask questions and expect answers -- and if you don't understand them, ask for better explanations.
Don't: Make Big Changes
Don't change jobs before you buy your home (unless you're getting a raise) and don't move money around.
As always, feel free to give me a call/text: (337) 945-6763 with any questions throughout the house hunting phase. I’d be more than happy to help!
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Ted M. Daigle eXp Realty
1720 Kaliste Saloom Rd Suite B-2
Lafayette, Louisiana 70508
Ted M. Daigle | Realtor
About Ted Daigle – Realtor Growing up in Church Point, LA instilled values of hard work and dedication, which has carried over into every aspect of his life, including real estate. This Lafayette r....
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