East Bay Area Real Estate

Bankrate has 3 Steps to Take Before Buying A Home.

They include:

1. Getting your credit in shape. Take advantage of free credit reports everyone is entitled to, thanks to federal law. There are many sites on the web that offer “free” credit reports but many of those require you sign up for the free trial and can end up costing you if you fail to cancel in time. The official site is www.annualcreditreport.com. You can receive one free credit report from Equifax, Experian and TrnasUnion credit beureaus.

2. Organize your financial paperwork. Gather up all the financial documents a lender will need when you submit an application. This includes 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. Budget. How much house can you afford? There is a difference between what you may qualify for and the amound you can afford.

3 Steps to Take Before Buying