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WHAT TO KNOW About Credit Scores Credit scores range between 200 and 850, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score: Your payment history. Did you pay your credit card bills on time? Bankruptcy filing, liens, and collection activity also affect your history. How much you owe […]

WORKSHEET Track Your Budget The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.   Income Expenses Total Take-Home Pay Total Rent/Mortgage Child Support/Alimony Child Support/Alimony Pension/Social Security […]

HOW TO Prepare to Buy a Home Talk to mortgage brokers. Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home […]

HOW TO Prepare for House-Hunting Know that there’s no “right” time to buy. If you find the perfect home now, don’t risk losing it because you’re trying to guess where the housing market and interest rates are going. Those factors usually don’t change fast enough to make a difference in an individual home’s price. Don’t […]

VOCABULARY Agency & Agency Relationships The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in the transaction. The buyer’s representative (also known as a buyer’s agent) is hired by prospective buyers and works in the buyer’s best interest throughout the […]

QUESTIONS TO ASK When Choosing a REALTOR® How long have you been in residential real estate? Is it your full-time job? Like most professions, experience is no guarantee of skill. But much of real estate is learned on the job. Do you have any designations or certifications? Real estate professionals have to take additional specialized […]

REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers: Ethical treatment. Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, […]

Contents A collection of how-tos, checklists, and worksheets to help your buyers and sellers understand what to expect during the real estate purchasing experience. The Basics Buyer What to Know | 7 Reasons to Own A Home page 3 What to Know | 7 Reasons to Work With a REALTOR® page 4 Questions to Ask […]