Competition is rising for the record low number of houses available. Interest rates are going to rise.
Steps to take to be ready to buy:
- Connect with a realtor, who can get insider info of the market. When house inventory is low, who do you think knows about houses coming available first?
- Your realtor will introduce you to some lenders who are a great fit for your situation. The earlier you have a conversation with the lender the better. Tell the lender what you want your monthly payment to be and they will let you know what you are approved for so you will not be wasting any time.
- Credit issues. If you talk to a lender and find an issue don’t grab a tissue. Get them fixed. Life tip: Get help from someone who has done it before. The lender will help you get a plan together to get you in the position to buy a house or they may refer you to a team of credit specialists that can give you further assistance. *Bonus* The lender works with a credit repair team to get you on track.
- Your realtor, will work closely with the lender and you to keep everything on track. Once the lender gives us the ok, we can look at houses. When that one, yes, that’s the one, comes on the market, you will be ahead of the game and ready to act
Lauren Patrick is a licensed realtor with McCumbers Brady Realty Group LLC. You can call or text her at 216-577-9220, visit her website at www.laurenpatrickrealtor.com.
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