Have you decided that you want to buy a home within the next year or so? Are you tired of renting somewhere to live and have decided that it is time to settle down? Although it may be a few months before you are ready to buy a home, there are many things that you can do to prepare yourself for the big day.

One of the first things that you can do is to get yourself pre-qualified for a mortgage. Many people opt to go with their own banks as they already know all about your monthly incomings and outgoings. This is one of the first places that you may want to go to, although you will want to shop around for the best rate. It would be a good idea to visit several lenders to see which one can offer you the best mortgage. Be wary of loans that sound too good to be true, as they will often sting you with high interest rates at a later date.

When considering buying a home a few months down the line, you will want to stay in the same job as you are currently in if possible. Any changes in job or position may make you appear instable and could potentially affect your mortgage quotes.  Try to keep your credit rating as good as possible in the months that lead up to buying a home, as this is one of the things that a lender will look at. You can do this by making sure that you pay all of your bills on time, as well as setting up a direct debit. Direct debits look good and will help boost your credit score as you monthly payments are paid on time and never missed.

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Tags: Buying, credit, Home, house, investment, lender, loan, mortgage, pre-qualify, property, ratings, score

This entry was posted on Tuesday, August 19th, 2008 at 2:31 pm and is filed under Buying, Financing, Planning, Residential, credit ratings, mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.