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While my mom's been out listing and showing homes I've had a lot of time on my hands. I've been making a list of things for new buyers to do before deciding to purchase a home. With interest rates at historically low levels, now is the time to buy a home but it also may be a bit more difficult to get approved for a loan. However, buyer's can now check their credit rating for free prior to speaking with a bank.
Did you know that you can request a free credit report? Yes, you can get a free credit report - you heard it here! A recent amendment to the federal Fair Credit Reporting Act requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. There is only one online source authorized to do so. The Federal Trade Commission (FTC) advises consumers who order their free annual credit report online to be sure to order only from the site below. Beware of other sites that may look and sound similar. It is a good idea to get a copy of your credit report and review it for accuracy. Wrong information can hurt you in many ways. Be cautious of identify theft also. That is http://www.annualcreditreport.com/ or by calling 1-877-323-8228You can also link to it from http://www.ftc.gov/.
Once you know your credit rating you can feel confident about getting pre-qualified for a loan from your bank and then be able to look for your dream home with my mom!
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