If you are considering buying a home in Durham NC, here are five common mistakes you want to avoid!
1. Not taking the time to properly interview buyer brokers. Experience counts.
2. Not getting yourself pre-approved (not pre-qualified) for a mortgage. (Your buyer broker can and should be an excellent resource to check with. )
3. Pushing the envelope, just because a bank tells you that you can qualify for $X amount doesn't mean that you won't be better off if you can stay 10-15 % below this maximum amount.
4. Opening up new credit cards or running up large bills once you are under contract, this will lower your credit score and may either disqualify you from getting a mortgage or cost you a higher rate.
5. Putting yourself under pressure on some self imposed timeline. You need some time to do your own diligence in regards to neighborhoods, schools, etc.
If you are considering buying a home in Chapel Hill or Durham, please contact NCHomes at (919) 659-5173.
Posted by Larry Tollen on
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