Use a Buyer's Agent
It's important that you choose an agent who is working exclusively for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating on your behalf, and answering all of your questions.

Exit Twin Advantage Realty can provide an agent who represents you and not the seller. This is beneficial during the negotiation process. If you are working with a buyer's agent, he or she is required not to tell the seller of your top choice. In addition, he or she is also focused on getting you the lowest asking price.

Also, when you use Exit Twin Advantage Realty, you will see more properties. Not only are we plugged into their Multiple Listing Service, but also we’re actively finding homes that are listed as FSBO, or homes that sellers are thinking about listing.

Why Not To Make Any Major Credit Purchases
Don't go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre- approval is subject to a final evaluation of your financial situation.

Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. For example, a car payment of $300/month could mean that you qualify for $30,000 less in a mortgage.

Even if you have accumulated enough savings, you should consider not making any large purchases until after closing. The last thing you want is to know that you could have purchased a new home had you curbed the urge to spend.

Build a Plan of Action and Get Ready
Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It's important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.

Ask yourself how much can you afford to pay for a home. If you're not sure on the price range, find a lender and get pre-approved. Pre-approval will let you know how much you can afford so that you can look for homes in your price range. You know exactly what you qualify for and at what rate, you know how large your monthly mortgage payments will be, and you know how much you will have for a down payment. Once you are pre-approved, you avoid the frustration of finding homes that you think are perfect, but are not in your price range.

Ask yourself where you want to live and what is the best location for you and/or your family. Things to consider:

• Convenience for all family members
  
• Proximity to work, school and shopping
  
• Crime rate of neighborhood
  
• Types of homes in neighborhood, for example condos, town homes, co-ops, newly constructed homes etc.

Pre-Qualified vs. Pre-Approved
Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debts, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means you have applied for a mortgage; you have filled out the mortgage application, received your credit report, verified your employment, assets, etc. When you are pre-approved you know exactly what the maximum loan amount will be.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.