EVERY FUTURE HOMEBUYER SHOULD READ THIS ARTICLE AS FOLLOWS:
"If you're planning to buy a house in 2010, here's my annual list of New Year's resolutions you should consider making.
-- Get your credit and finances in shape. If you want to take advantage of today's low interest rates, you need to have a credit score above 760. The higher, the better. If your credit score is below 620, you'll have trouble getting even an FHA loan.
-- Know how much you can afford to spend before you shop. Getting pre-approved has never been more important. You'll need documentation (W-2, tax returns, account statements, etc.), so get it together before you contact a lender. And shop around. Each lender sets its own fee schedule. Get the best deal by contacting four or five types of lenders.
-- Know the neighborhood, and be comfortable with it before you buy a home there. Houses are great, but neighborhoods that are littered with foreclosures may be unstable for years. Spend time in the neighborhood before falling in love with a particular house." (Washington Post)
READ THE REST OF THIS ARTICLE:
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/17/AR2009121705023.html
