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Check your credit report for
accuracy and completeness.
Buyers with inaccurate information on their credit report
may have a hard time obtaining financing, or be offered
loans at higher-than-market interest rates. The Fair Credit
Reporting Act gives consumers the right to a free credit
report from each of the three nationwide credit reporting
companies every 12 months. Visit
https://www.annualcreditreport.com to request a report.
Hire the right real estate professional for the job.
When you’re buying a home, would you know what to do if your
financing fell through the day before closing, your home
inspection found a termite infestation, or your future
neighbors had just built a wall on your property?
As a buyer, you want someone who knows the market and who
has experience handling the particular needs of home buyers,
whether it’s identifying homes and neighborhoods,
negotiating for the best deal, or coordinating the 20+ steps
between contract acceptance and closing.
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Educate yourself about
mortgages and mortgage fraud.
Many mortgage products are
available in today’s market, but not all of them work for
all buyers. Do your homework first, and consult a Realtor®
to learn about different financing options and their
implications over time.
According to Fannie Mae, mortgage fraud has increased
five-fold in the past 10 years.
To protect yourself, work with a Realtor® who knows the
local market, and check his or her credentials with the
Realtor® board or association in your area.
Use the Internet wisely.
Be careful when sharing financial or other personal
information over the Web – predators can steal this data and
the user’s identity..
Remember that you’re not just
buying a home; you’re investing in your future.
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