3 Steps To Take Before Buying A Home

Look at you! You’re going to buy a house! Yay! Wait, what should you do to get ready? Bankrate has 3 Steps to Take Before Buying A Home. They are:

1. Get your credit in shape: Order your credit reports
One of the first steps any prospective buyer should take is to take advantage of the free credit reports everyone is entitled to request annually, thanks to federal law.

2. Organize your financial paperwork
You also should gather up all the financial documents that a lender will need when you submit an application. They include copies of your income tax returns, W-2 wage statements, paycheck stubs, bank and investment account statements, divorce decrees and child support documents and recent credit card statements.

3. Craft a budget: How much house can you afford?

There is a difference between the maximum payment a borrower can qualify for — which can sometimes be surprisingly high — and the amount you can comfortably afford.

The article goes into more better detail, so check it out. —MEGHANN MARCO

3 Steps to Take Before Buying A Hous
e [Bankrate]
(Photo: whalt)