Some of the most popular New Year’s resolutions are financial promises and plans for the coming year. Is buying a home or financially preparing yourself to buy a home on your radar for 2016? If so, the best way to ensure that you reach that goal is to be proactive and start working towards your goals as soon as you can.
Mortgage interest rates are currently still low and experts don’t believe that they will rise sharply anytime soon, so if you’re interested in buying a new home 2016 is likely to be a great year to do that! With rental markets around the country heating up, 2016 looks to also be a great year for those with homes to list on the market. Whether you’re just looking to get yourself ready to be in the position to buy sometime in the future, or looking to actually buy a home in 2016, there are a few key things you can do in order to set yourself up to qualify for the best rates, terms and mortgage programs available on the market today:
What’s your credit score? If you don’t know what’s on your credit report, or what your credit score is – check it out today! You can request your credit report for free once per year from each of the three major credit bureaus. This report won’t contain your score, but that can either be purchased or obtained from a prospective lender. It’s important to check your credit report on a regular basis for inaccurate information which might negatively impact your credit score. Generally, the higher your score, the better your rates and terms, so if your score could use some improvement get started on it today!