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Purchasing a new home is a big deal. Unless you have saved up the money you need to purchase your home in cash, there are many things you should do before you begin your home search.

Here are 8 Things You Can Do To Improve Your Mortgage Chances and Terms:8 Things You Can Do to Improve Your Chances of Getting a Great Mortgage.

These are just a few of the questions to consider:

  1. Get your Credit Score. Don't assume you know your credit is good. Don't assume that all items on your report are yours. The higher your credit score, typically the lower your interest rate on your loan. You are entitled to one free credit report from each of the three main credit bureaus: Transunion, Experian and Equifax. These companies do not give you a "score" but you will be able to review each report and note any discrepancies.
  2. Stop applying for new credit a year before you apply for financing and wait until after you close on your home.
  3. Calculate your mortgage payment ahead of time. Use our mortgage calculator to help you determine what your payment will be. Don't forget to factor in PMI, property taxes and homeowners insurance. (See the video below for more tips.)
  4. Practice paying your mortgage prior to getting one. You will have put good habits in place and will be building your down-payment or home improvement fund at the same time. Know what amount you are comfortable with.
  5. Don't overlook possible downpayment solutions. Use the internet search for additional resources. Try searching the city name, then the county name, along with word combinations such as "down payment assistance," "first-time homebuyers" and "homebuyer's assistance."
  6. Prepare for homeowner expenses and updates. Put money aside each month for unexpected home owner repairs and appliance replacements.
  7. Obtain financing prior to beginning your home search. Also known as prequalification, obtaining financing before you start will save you time by allowing you to only view homes within your price range. Prequalification may also give you an edge if the property you desire is also being bid on by other buyers. Seller's tend to prefer buyers who can move quickly and don't need to wait for financial approval.
  8. Ask Yourself a Lot of Questions Before You Begin:
  • What is Important About the Home?
  • What do you require in your location? (access to schools, bus lines, parks, etc.)
  • Suburbs, downtown or rural?
  • Mow your yard or community association to mow for you?

10 Tips To Lower Homeowner Insurance Costs: Watch the video below for some valuable information that may save you money on your homeowners insurance during the buying process.


Contact Information

Photo of Kim Higgins, Broker/Owner Real Estate
Kim Higgins, Broker/Owner
Realty Executives NOLA
1742 N. Causeway Blvd.
Mandeville LA 70471
Northshore: 985.231.3130
Southshore: 504.564.7676

The information contained in this web site is provided by the listing agent or broker for the sole purpose of consumers' personal use and to assist consumers in identifying properties for potential purchase. This information is deemed to be reliable, but is not guaranteed. You should independently verify the information regarding property that interests you. Neither the listing agents/brokers, Kim Higgins, nor Realty Executives NOLA, shall be responsible for any typographical errors, misinformation, misprints or other mistakes. This information is subject to change without notice. All properties are subject to prior sale, change or withdrawal without notice. You should know that, given the volume of listings, delays in removing or posting listings, in correcting misinformation, or in supplementing information on this web site are inevitable. If you have an interest in certain properties, then please confirm their availability and facts as soon as possible. Neither the listing agents/brokers, Kim Higgins, nor Realty Executives NOLA, make any express or implied warranties for any of the information provided herein to a potential purchaser of a listed property or any consumers.

Kim Higgins, ABR, CRS, ePRO
Licensed in Louisiana, USA

Realty Executives

Each office is independently owned and operated.