Ok, so you want to buy a home, especially now, since you may qualify for that $8000 tax credit. What should you be doing? The time is running out so, hopefully, you’ve already started the process.
If you haven’t done so already, contact a mortgage lender or bank to find out if you qualify and for how much. The lender will pull your credit or have you pull your credit to find out your credit score. Then, they will evaluate any credit issues you may have and tell you what you need to do to resolve them. Some issues take months to resolve.
Hopefully, you’ve already been reading the information here about credit and have been working on preparation to buy.
The point I want to stress here is that it will take, on average, 2-3 months to close your loan once you have applied. Count the days! The $8000 tax credit is set to expire on December 1 and we are already well into September. Even if your credit is good, you must hurry and work closely with your lender if you hope to close your loan before the deadline.
Start today. If you have questions, contact your lender or email me here. Good luck!
