I have no idea where to start at the moment me and my husband are just paying off one vehicle and dont have any debt so its a perfect time to buy a condo/townhouse or even a nice mobile home in a nice area hes credit is quite poor its a little under 600 because hes very young and berely opened up credit we live in southern california and would like to buy a home.
What do we need to do before we even start searching for a home??
should we wait to build up are credit scores since im young too and my score isnt any better.
any advise would be appreciated!
- Shop around for a mortgage. Try to know as many options as possible.
- Ask several lenders what you have to do in order to get the lowest possible mortgage rate.
- Get your credit report from Equifax, Experian and TransUnion. If there are any errors, try to contact these three agencies and clear them up before you apply for a home loan.
- If your credit history is not so great, an experienced broker may be able to help you negotiate for the best possible deal.
- Getting a pre-approval letter from a lender is also a smart thing to do before shopping for a house.