What You Need to Know to Get Into the Right Home at the Right Price

What You Need to Know to Get Into the Right Home at the Right Price

The weather’s heating up and so is the housing market. Nearly 8 million homes will be sold this year, with much of the activity happening during the spring and summer months. If you’re a prospective homebuyer or seller, there are some important tips to keep in mind that could save you time and money.

Buying A New Home?

ANCHOR LEAD: The weather’s heating up and so is the housing market. Nearly 8 million homes will be sold this year, with much of the activity happening during the spring and summer months. If you’re a prospective homebuyer or seller, Roberta Facinelli has some important tips to keep in mind that could save you time and money. (:57)

SCRIPT: Your Financial Fitness, I’m Roberta Facinelli. Like many Americans, you may be thinking of buying a new home or a vacation property in the next few months. David Hall, senior vice president at Quicken Loans, recommends some basic guidelines if you’re in the market for a new home.

CUT: (Hall) The first thing to do is make sure your credit is in order. Check your credit report for errors; cause the last thing you want is to be denied credit because of a mistake. Next, you want to work with a good mortgage lender who can help you determine exactly how much home you can afford. And remember, you’ve got to factor in taxes, insurance and maintenance when you’re determining your housing costs.

SCRIPT: Hall also says it’s important to get approved for a mortgage before you start house hunting. That will make your offer more attractive because the seller knows the offer is good. For a free home buying guide, go to QuickenLoans.com. That’s your Financial Fitness from Quicken Loans, I’m Roberta Facinelli.

ANCHOR TAG: That Web site again: QuickenLoans dot com. There you can download a free “Home Buying” guide which contains a Home Affordability Worksheet and a House Hunting Checklist to help buyers compare the features of various homes.