Buying a house in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas? Setting out on the search for your new home can be both exciting and overwhelming if you’re unaware of some incredibly useful tools. To help take the overwhelm out of the equation, check out these 6 resources to help you when buying a house in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas.
Check Your Credit
It’s certainly not what most of us would consider a fun place to start, but getting your free annual credit report from the major credit rating agencies is always a great first stop on any home-buying venture. You can get your free annual credit report here from all 3 agencies.
You should carefully check the reports for any inaccuracies or errors, and go through the proper channels to remedy them as soon as possible. You may discover you still have some old debt floating around out there, and paying it off will make a big difference in the future.
These reports provide detailed account information but not your credit score. Credit card companies are now required to provide your credit score. Check out the website of one of your credit card providers to obtain your score without running a credit report.
Define Your Goals
With your financial history sorted out, it’s time to brainstorm what you want and need to get out of your new home when buying a house in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas.
Buyers have a tendency to get bogged down in the search too early on, and then slowly start to spell out they really need in a home as the search goes on. Taking the time to put together a list of requirements you have for your next home will narrow down your search at the very beginning.
Then, check to see which of the remaining potential properties can meet your wants as well. This will help you save time and frustration.
These days it’s extremely common for buyers to immediately look through online listings to begin the house search.
While we do encourage buyers to use these online listing databases, it’s important to keep in mind that the financial data and estimated prices for homes on these sites are often pulled from public records or unreliable sources that can be rather out of date.
you should take any estimate data with a grain of salt, and do not heavily rely on it when narrowing down your favorite properties. Your real estate agent can assist in verifying this information.
Down Payment Assistance Grants
An opportunity that is underutilized by qualifying buyers, down payment assistance grants come in many shapes and forms, but often act as a low- or interest-free second mortgage.
These grants vary wildly based on their individual terms, but you’ll find that some are forgiven or deferred if you make a certain number of payments on your first mortgage on time. You can get information by searching online for the grants offered in New Jersey. They may provide assistance especially if you’re buying a house in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas for the first time.
Not all mortgages are alike, and you want to look to see if you qualify for any specialized programs that could save you money.
The two biggest government programs in the United States are USDA loans and VA loans.
USDA loans are designed to provide low-interest loans for rural development. This is a pretty unlikely in our area but you can find more details – including if you would qualify – through your local Federal Housing Administration.
VA (Veterans Affairs) loan is a zero down payment, no Private Mortgage Insurance loan awarded to qualifying United States military veterans through the Department of Veterans Affairs. These loans are funded by banks but backed by the US government.
The classic resource to turn to when you’re planning on buying a house in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas remains your local qualified and experienced real estate professional.
Agents come equipped with the knowledge and networking contacts to not only find you what you’re looking for in a home, but make the deal a success from beginning to end. They should be able to guide you through the process step by step.
We do recommend shopping around for the agent that’s right for you by meeting with multiple agents and checking their references.
Experienced Help Buying a House in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas
If your future plans involve buying a house in Westfield, Cranford, Clark, Scotch Plains, Fanwood and Mountainside Areas, contact us today at 917-608-7277 for an experienced agent!