HELPFUL INFORMATION FOR LAKE CHARLES, LA BUYERS

 

 

Get the money first!


Meet with your local mortgage professional and see what he or she can do for you. 
This step is critical, so start here first. You must be pre-approved before you enter into a contract to purchase a home!

 

 

 Costly Mistakes First-Time Buyers Make


Buying a first home can be a new experience. Here are a few common and costly mistakes that novice home buyers make:


1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.

2. Do not make any major purchases!. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.

3. Don't skip your inspection. Being surprised by the need for expensive repairs can be financially devastating.

 4. No extra money for insurance. Insurance can be surprisingly pricey. Buyers who don't budget for it can face a nasty surprise.

Source: CNNMoney.com, Les Christie (04/19/2010)

 

WHY SHOULD YOU GET A HOME INSPECTION?

Property inspections often shed light on the amount of money that will be needed in order to get the house in livable condition. Knowledge is very important and can mean the difference between taking on a project or thousands of dollars in repairs and professional help.