Buyer's Homebuying To do List

Buying a home? Heres your to-do list

Youll have a team of real estate professionals working with you during the homebuying processlike lenders, inspectors, and appraisers, to name a fewbut there are still some tasks that are all yours. Start by hiring a Texas REALTOR®, who will guide you through every step of the way, and taking care of a few to-dos that are all up to you.

• Take care of your credit report.You should request copies of your credit report annuallyespecially before applying for a mortgage. Look for any issues or instances of identity theft. These wont necessarily keep you from getting a mortgage, but youll have to take action to clear them up.
• Set your realistic budget.If you need financing, your mortgage broker or banker will help you determine how much you can afford based on your income, debts, and credit history. He or she will then calculate what youre eligible to borrow. Your job is to be ready to supply this information and set a price range that your Texas REALTOR® can use to find potential properties within your budget.
• Get pre-approved.Your mortgage broker or banker can also help you get a pre-approval letter that states how much a lender is willing to let you borrow. When youre ready to put an offer on a property, this letter will tell the seller youre serious and youve already taken the first steps toward seeking funding.
• Respond to requests quickly.You may be asked for copies of your financial statements, your tax records, or for your signature on forms. Your role is to provide this information in a timely manner so the requester can move forward.
• Communicate with your Texas REALTOR®.If youre feeling uncertain about part of the process, or you just have a nagging question, talk to your Texas REALTOR®. He or she will have the knowledge and experience to answer your questions.