Things to Know Before You Buy a Home

Whether you are a first time home buyer or a seasoned real estate owner, buying ahome is a significant financial decision that requires some knowledge before you decide to buy a home.

Before you begin to look and fall in love with a house, the first thing you should do is get prequalified or preapproved by a lender. A lender can give you a prequalification letter that states the amount the lender thinks you should be able to borrow based on your income and credit without any actual documentation.

A seller will take you more seriously if your REALTOR® can tell them that you are ready to buy and have a preapproval letter from the lender. This means that you have actually completed the paperwork necessary to get financing. Talking with a lender will allow you to know the price range of properties you can afford and what types of loans are best for you in your financial situation. Most importantly if you have a problem with your credit or an error in your credit report, it will give you time to fix it before you make an offer on a home.

Your REALTOR® can recommend several lenders that you can speak with about financing and getting preapproved. This will save you time when you find your dream home and may speed up the process from accepted offers to closing day.

Once you know what type of loan you can get, you can start to look. Take advantage of social media and websites like®, and your local REALTORS® website.

Armed with this knowledge and information you will have the upper hand with negotiating a purchase for your new home.

Visit us at to preview homes or contact Aleta Boudreaux at Azalea Real Estate Agency in Grand Bay 251-656-4576 for more information on how to buy a home or to tour homes in the area.