October 17, 2017 | Bob Myers
Getting ready to buy a house?  Before you head out on your first home  tour with your agent, arm yourself with the following advice.

1. Double check your credit

If you're thinking about buying, you should already be "keeping score."  Know your credit score, and make sure to rectify any credit reporting  errors before lenders take a look.

2. Understand the added cost of certain features

As you make your list of "must-have" home features, be sure you consider  the added expenses that may come with them.  Your math should include  things like the cost of landscaping maintenance for extra acreage and  energy costs that come with added square footage.

3. Discover where your dollars go 

Get up close and personal with your monthly budget and track every single  thing you purchase over 30 days.  Review your credit card and bank  statements to categorize where you spent each dollar (e.g.,  entertainment, food, clothing). Several online sites and software  programs can help you track and categorize spending.  This will help you  identify where you can cut back to put more money toward a monthly  mortgage payment.

4. Research mortgage options

You don't always need to invest a 20 percent down payment.  Explore your  options, like a Conventional 97 from Fannie Mae.  Just 3 percent down is  enough to help you qualify for this program, as long as it's for a  fixed-rate mortgage on a single-family home for under $417,000. But there are other guidelines and we can refer you to a lender to discuss your options.

If  you're ready to buy a home, we can help you calculate  how much house you can afford, then find a home you'll love within your  budget.

Please consider The Myers Team your resource for all things real estate.  We have over 30 years of real estate experience, specializing in the Montgomery County area.  If you are refinancing, want a recommendation,  need a service provider or just have a home related question, please  give me a call at  301-910-9910 or email me at bobmyersteam@gmail.com.
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