How to Get the Best Deal When Buying a Home

Dated: January 10 2019

Views: 146

Are you planning to buy a house? There are ways to save a few bucks when doing so. Just follow these tips

Use a trusted and experienced real estate agent

Being represented by an agent is vital. When you are with the right real estate who are experienced enough to help you with your home buying, you can save a lot. They can help you negotiate various things in the contract to protect and help you save money that you had no idea possible. Your transaction will go smoothly and you have more chance of getting a good deal out of it.

Shop more than one lender

Each lender has their own interest rates. It is important to shop for a few and get at least 3-4 loan quotes to compare who offers the best deal. Check and compare not just their interest rates but also estimates of other fees such as origination fee, application fees etc.

You may want to read this blog when choosing a lender.

The higher the down payment the better

If you can pay 20% down payment, please do so. You can save with insurance and you can lower your monthly payments which is a good thing in case the rain comes in the future.

Boost your credit score

Your loan can be cheaper if you have a higher credit score. Paying off your credit card balances and avoiding any new loans or credit before and while applying for a mortgage can help you improve your credit score. By doing so, lender fees and interest rates can be lowered.

Determine the best mortgage loan for you

There are many different mortgages options available in the market. Also check any available money saving programs. Some may help you get lower interest rates which can save you hundreds if not thousands of dollars yearly.

Check your timing

Trying to get a home at the same time as everybody can end you up paying more. Buying during the lean season can help you negotiate a better deal.

Whatever you do, don’t be shy to ask questions and get some help. If you are planning to get a home and need some assistance around Alaska, don’t hesitate to call us at (907) 570-6757 or 907-720-4663. We can help.

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Homes by Vanna

Vanna has called Alaska home for the past 15 years. As a mother, real estate investor and previous business owner, Vanna brings many different perspectives when working for her clients. She has been a....

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